Decision

AGREED
that Cabinet:
 

a)      
note and welcome the progress on the Ollerton Town
Centre Regeneration Scheme;
 

b)      
note and welcome the Government announcement that
the Ollerton Town Centre Regeneration Scheme, along with Clipstone
Mansfield Road development, has been identified to benefit from
£19,995,358 under
the Levelling Up Fund Round 3 (LUF3);
 

c)       
delegate to the Director - Resources, in
consultation with the Director - Planning & Growth, Business
Manager - Corporate Property and Portfolio Holders for
Strategy, Performance & Finance and Sustainable
Economic Growth, authorisation to
negotiate and purchase in accordance with the requirements of the
Council’s Acquisitions and Disposals Policy the former Lloyds
Bank on Forest Road for the Maximum Offer detailed at paragraph 2.2
of the report and in the Exempt Appendix B;
 

d)      
delegate to the Director - Resources, in
consultation with the Director - Planning & Growth, Business
Manager - Corporate Property and Portfolio Holders for
Strategy, Performance & Finance and Sustainable
Economic Growth, authorisation to
negotiate terms for necessary land assembly and lease deals with
the Ollerton Regeneration Partners and prospective tenants, subject
to completion of a Full Business Case to be presented to a future
Cabinet, which includes Town Council Offices, a piece of brownfield
land referred to as the Courtalds site
and The Forest Centre;
 

e)      
delegate to the Director - Resources, in
consultation with the Director - Planning & Growth, Business
Manager - Corporate Property and Portfolio Holders for
Strategy, Performance & Finance and Sustainable
Economic Growth, authority to agree and enter terms with Government
to access the £19,995,358 LUF3 Funds, including
any further updates that may be required for the LUF3 projects
given the time elapsed between the bid and confirmation of
success;
 

f)        
agree additional revenue budget of £150,000
from the change management reserve in 2023/24 to allow acceleration
of feasibility design work in advance of receipt of LUF3 funding,
with delegation to the
Director - Planning & Growth, in consultation with the Business
Manager - Corporate Property and Portfolio Holders for
Strategy, Performance & Finance and Sustainable
Economic Growth;
 

g)       
request a future update to Cabinet, including
timetable for submission of a planning application and development
of final Business Case; and
 

h)      
request update report(s) following all negotiations
to seek approval for future capital budget requirements.