Purpose

To consider a report on the proposed dissolution of the
development management agreement relating to the Future Works
site.

Decision

(a) 
Approved authorisation
for the dissolution of the Development Management agreement between
Land Securities and the Council on the basis recommended in
Confidential Appendix C – SBC Financial Analysis.  The dissolution of the Development Management
agreement on the basis outlined will allow significant funds to be
recognised in FY 25 / 26 without adjustment or offset.  It is also anticipated that reaching this
agreement with Land Securities would potentially unlock investment
in the remaining phases of the Future Works development, a further
step in the continued regeneration of Slough’s town
centre.

 

(b) 
Delegate authority to
the Executive Director of Regeneration, Housing & Environment
in consultation with the Deputy Leader with responsibility for
Finance, Assets & Transformation and the Executive Director
Corporate Resources (s151 Officer)  to
dissolve the Development Management agreement between Land
Securities and the Council on the basis recommended in Confidential
Appendix C without material adjustment to the recommended financial
position or timing outlined therein.