Purpose

To provide an update on the progress of the Marketfield Way Project.

Decision

RESOLVED - that Executive:

(i)               Note the progress that has been made to deliver Stage 4 of the project, in relation to scheme implementation, construction, residential sale and commercial lettings;

(ii)             Note the initial economic, social and environmental benefits that have been derived;

(iii)           Note the details set out in the Part 2 report;

(iv)           Authorise the Head of Place Delivery, in consultation with the Leader, Deputy Leader and Executive Member for Finance & Governance, Executive Member for Place, Planning & Regulatory Services and Chief Finance Officer to settle the final account with the Council’s contractor VINCI Construction UK in line with the recommendations set out in Part 2 of this report;

(v)             Approve the inclusion of £4,297,682 million Capital Programme growth for completion of the development, funded from prudential borrowing, in the final budget report to Executive on 1 February 2024.