Decision

Having been duly proposed and seconded, the Executive Resolved to:-

1)    Declare the site was not required for operational purposes, that the Council did not intend to deliver the development itself and it could be sold to a suitable development partner.

2)    Approve commencement of an exercise to procure a development partner securing the optimum regeneration, financial and social value outcomes for Somerset Council.

3)    Delegate authority to the Strategic Director, Community, Place and Economy, in consultation with the section 151 Lead officer, Lead Member for Economic Development, Planning and Assets to:

·       Finalise the procurement strategy and documentation;

·       Appoint specialist advisers where required;

·       Undertake all necessary technical, legal and commercial due diligence;

·       Commence and manage the procurement process; and

·       Undertake all actions necessary to progress the project to preferred bidder stage.

4)    Require a further report to Executive following completion of the procurement process, seeking approval of the preferred bidder and any associated land transactions or contractual commitments.