Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: September 11, 2024

Purpose:

Content: Councillor Munday, in the absence of the relevant Cabinet Lead, introduced a report seeking approval for a mechanism which would enable the Council to purchase key strategic sites within the Borough without having to seek Cabinet or Council approval for the use of Regeneration Capital Reserves for the acquisition of each site.   The report and options available to Cabinet were discussed in detail.   Following a question and answer session, debate and vote, Cabinet agreed the report’s recommendations for the reasons stated in the submitted report.   RESOLVED that:   A.                  the use of the Regeneration Capital Reserves to deliver the Council’s ambitious regeneration programme in accordance with the Council’s Regeneration and Economic Development Strategy be endorsed; and   B.                  Council be recommended to:   1.                  delegate authority to the Executive Head of Regeneration, Economic Development and Preventative Services in consultation with the Cabinet Lead for Regeneration and Communities to acquire land within the borough for the purposes of Regeneration, subject to a satisfactory financial appraisal approved by the S151 Officer;   2.                  delegate authority to drawdown funds from the Regeneration Capital Reserves to acquire land for Regeneration purposes. under this delegation; and   3.                  delegate authority to the S151 Officer to amend the Capital Programme.