Decision

That Cabinet:
 
a)        
notes the updates associated with the LUF 3
programme including the revised name of ‘Local Regeneration
Fund’, as detailed in 1.4 of the report;

Ollerton Project
 
 
b)        
approves a budget to be added to the Council’s
Capital Programme in 2025/26 to finance the acquisition of the
Forest Centre unit, funded by UK Shared Prosperity Fund grant, and
LUF 3 grant, in advance of securing planning permission and Full
Business Case (FBC) approval, as noted in paragraphs 1.11 and 1.12
of the report.  In addition, a revenue
budget of £40,000 was required to retain the unit until
demolition. The full costings are contained within the Exempt
Appendix;
 
c)         
to delegate the finalisation and execution of the
Agreement for Lease (and any other associated legal contracts
required) with Ollerton and Boughton Town Council, in advance of
securing planning consent, but upon completion of Heads of Terms,
to the Director - Planning & Growth, as
noted in paragraph 1.15 and 1.16 of this report;
 
d)        
approves a commitment to the Change Management
Reserve of £1,225,000 and £105,000 from Capital
Receipts towards the Ollerton Regeneration scheme, in accordance
with paragraph 1.17; and
 
e)        
approves a budget of £682,746 to be added to
the Capital Programme in 2025/26, financed by LUF 3 grant, to fund
RIBA 4 activities, in advance of securing planning consent and
finalisation of legals, but following FBC approval, as noted
further in paragraph 1.20.