Decision

It is recommended that Cabinet:

a)    note the financial implications contained within this report result in an overall increase in the Council’s contribution to the LRF Sherwood Programme of £2,250,000 funded by reserves.

Ollerton Town Centre Regeneration Scheme

b)   approve the amendment of the projects overall capital budget from £XXX to, £XXX, as set out in 1.6 of the report;

c)    delegate authority to the Director of Finance, Revenues and Benefits and Section 151 Officer to enter into a reciprocal funding agreement with Nottinghamshire County Council, to commit LRF funding to capital works associated with Ollerton Roundabout and reciprocal financing of the Ollerton LRF project, as set out in 1.12 to 1.14 of the report.

d)   approve the addition of £5,000,000 within the Council’s capital programme, funded by existing LRF grant, to facilitate capital works to Ollerton Roundabout, pursuant to recommendation ‘c’ above;

e)    with respect to Right to Light matters, as set out in paragraph 1.16 and Appendix A of this report:

i.         Agree that the land to be acquired by the Council, namely parcels 1, 2 and 5 detailed in Appendix A, are required for planning purposes to deliver the Ollerton LRF regeneration scheme under section 227 of the Town and Country Planning Act 1990;

ii.        Agree that the land owned by the Council, namely parcels 3 and 4 as detailed in Appendix A, are no longer required for the purpose for which they are presently held and are to be appropriated under section 122(1) of the Local Government Act 1972 for planning purposes;

iii.      Agree that acquisition of the land has and will facilitate the development, redevelopment, or improvement of the land;

iv.      Agree that the acquisition of the land is in the public interest and is a proportionate means of facilitating the regeneration scheme; and

v.        Note the effect of the operation of sections 203 to 205 of the Housing and Planning Act 2016 in connection with the construction, maintenance, and use of land comprised in the Scheme.

f)     subject to the Council’s acquisition of Parcel 5 as identified in Appendix A, to delegate authority to the Director of Housing, in consultation with the Director of Planning & Growth, to appropriate the said Parcel 5 from the General Fund into the Housing Revenue Account (“HRA”) upon vacant possession of the land.

Clipstone Regeneration Scheme

g)    agree to amend the Council’s capital programme to facilitate the three Phases of the Clipstone Regeneration Scheme, as follows:

i.         An increase of £XXX from the existing budget of £XXX to £XXX towards the delivery of Phase 1 (commercial development). This would be funded through an increase in LRF grant contribution of £3,646,212 and a reduction in Borrowing, as set out in 2.3 to 2.9 of the report.

ii.        An additional budget of £2,200,000 towards the delivery of Phase 2 (sports development), financed by reserves,along with £514,406 of S106 monies, as set out in 2.3 to 2.9 of the report.

iii.      An additional budget of £XXX towards the delivery of Phase 3 (Vicar Water Country Park Visitor Centre improvements). This would be financed by £XXX of LRF grant and £XXX of Section 106 (AG1185) contributions, as set out in 2.3 to 2.9 of the report.

iv.      An additional budget of up to £XXX funded by reserves, to facilitate the freehold purchase associated with the development of Phase 3 of the Clipstone Regeneration Scheme (Vicar Water Country Park), as set out in 1.26 of the report.

h)   note that the budget of £2,714,406 (£2.2m reallocated reserves and £514,406 S106 from legal ref AG1183, AG1185) towards Phase 2 of the Clipstone Regeneration Scheme (as set out in recommendation g) ii above), is subject to:

·      the Council and delivery partners securing all remaining match-funding to enable the delivery of the Phase 2 Clipstone Sports Hub project, as set out in paragraph 1.30 of the report;

·      approval by the Council’s Director of Finance, Revenues and Benefits and Section 151 Officer of a satisfactory final business case demonstrating the viability, affordability and deliverability of the project and;

·      completion of the proposed land swap and all associated legal agreements required to facilitate delivery of the scheme; and

i)     delegates authority to the Director - Finance, Revenue & Benefits and Section 151 Officer, in consultation with the Director of Planning & Growth to determine and approve the project Business Case for Phases 1 and 3, in accordance with the proposed updated Business Case arrangements, as set out in 1.29 of the report.