Purpose

Church Street Site A
– Appointment of Joint Venture Development
Partner.

Decision

Summary of
Decision
This is a decision delegated from the
Council’s Cabinet on 29 February 2024 to the Executive
Director of Regeneration, Economy and
Planning in consultation with the Executive Director of Democracy,
Law and People, Executive Director of Finance and Resources and
Executive Director for Environment, Climate and Public Protection
in the Council’s capacity as landowner. (as counterparty to
the Development Agreement and other related agreements) and as a
member of the LLP to:
1.          
Finalise and enter into all the legal
and financial documents required to set up the JV LLP and to
proceed with the Church Street Site A development including all
legal agreements.
2.          
This decision also includes the approval of the initial Business
Plan as incorporated within the Members Agreement and the
appointment of the Council’s representatives of the JV.
 
Reasons for
Decision
Cabinet approved a preferred bidder 29
February 2024. The legal documents have now been finalised with the
preferred bidder since the Cabinet’s approved decision. All
legal documents are now in a final form for the Council to execute
which includes the initial Business Plan and the appointment of the
Council’s representatives on the JV LLP.