Decision

That
Cabinet:
 

a)           
note the report;

 

b)           
for the Newark Gateway/SiSCLog Towns Fund Project:
 

i.          
agree to pause the Newark Gateway/SiSCLog Towns Fund project until such time as a
viable solution for the relocation of Newark Lorry Park and
redevelopment of the Newark Gateway site can be presented back to
Cabinet;

 

ii.        
subject to b)i) above, agree to informing the Newark Town
Board of the decision to pause the Newark Gateway/SiSCLog development, noting that the £4.294m
of Towns Fund money allocated to this project will be reallocated
to existing undelivered Towns Fund projects by Newark Towns Board,
as delegated to its Chair and the Council’s Section 151
Officer;

 

c)            
for the Stodman Street
Phase 1 (32 Stodman Street) and Phase 2
(St Marks Place)
 

i.          
subject to approval of the Newark Towns Board Chair
and the s151 Officer (in accordance with paragraphs 2.3 of the
report), that the Council reallocates the £4.294m as follows:
£790,000 towards Stodman Street
Phase 1; £310,000 to the Gatehouse and £3.194m of the
remaining budget towards a Stodman
Street Phase 2, as detailed below;
 

ii.        
subject to c)i) above, to delegate to the Director -
Resources in consultation with the Director - Planning & Growth
authorisation to submit a Project Adjustment Form to Government
seeking formal authorisation to re-allocate the Newark
Gateway/SiSCLog grant to the
Stodman Street Phases 1 & 2 and to
Newark Castle Gatehouse;

iii.      
approve, subject to c)i) an uplift of the
Stodman Street and Newark Castle
Gatehouse budgets within the Capital programme by £790,000
and £310,000 respectively;

iv.      
delegate to the Director - Resources and Director -
Planning & Growth authority to continue negotiations to
establish an appropriate purchase price and funding package for
Stodman Street Phase 2 (St Marks
Place), subject to c)i) and c)ii) above and subject to a further
update to Cabinet on 4 June; and
 

d)      for the A46 Bypass and the
existing Newark Lorry Park, a further report
will be brought to Cabinet on the implications of the A46 Bypass
including the specific short and long
term impact to the existing Newark Lorry Park as a result of
the Bypass.