Agenda item

RESOLVED:  1)         That the draft Business Case as set out in appendix 1 to the report be endorsed in order to secure the Town Deal funding.

2)    That the use of the Council’s assets and property interests for the purposes of the project as set out in the Business Case be endorsed.

3)    That delegated authority be granted to the Chief Executive, the Deputy Leader and the Portfolio Holder for Development and Regeneration to approve the final Business Case in their capacity as Council representatives on the Town Deal Board.

4)     That delegated authority be granted to the Section 151 Officer to approve the final Business Case and sign the Business Case Summary Document for submission to government in the Council’s capacity as Accountable Body for the Town Deal.  

5)     That a report be brought to a future Cabinet meeting setting out the due diligence and options appraisals to approve the operating model and business planning for the project. 

6)     That the remaining Riverfront proposals not included in this project, as set out within the report (para 2.9), remain priority projects to be pursued by the Borough Council outside of the Town Deal programme. 

Reason for Decision

To approve the Business Case as the Accountable Body for the Towns Fund to ensure the funding is secured to deliver the Riverfront Regeneration Area project; to deliver the investment priorities in the Town Investment Plan for King’s Lynn and support the long-term economic prosperity of the town

Click here to view the recording of this item on You Tube

The Assistant Director – M Henry presented the report which reminded Members that King’s Lynn was awarded by Government a £25m ‘Town Deal’ in June 2021, subject to the completion of business cases for the projects approved under the Heads of Terms offer.

The objective of the Towns Fund programme was to drive the sustainable economic regeneration of towns to support long term economic and productivity growth. A Town Deal was a three-way agreement between Central Government, the lead local authority and the Town Deal Board.

The report summarised the business case for the Riverfront Regeneration Area project for approval by the Council’s Cabinet in its capacity as the “Accountable Body” to the Department for Levelling Up, Housing and Local Communities (formerly Ministry of Housing, Communities and Local Government (MHCLG)) and as part of the Council’s role on the Town Deal Board.

Under standing order 34 Councillor Morley commended it as a good case which he believed would be a great asset to the town.  He acknowledged that at this stage it was not required to have a final design but to obtain the funding.

Under standing order 34 Councillor de Whalley commented on the concerns of some residents about the watchtower, and also supported an exhibition boat near the Custom House as discussed in the Regeneration and Development panel.

Cabinet discussed the case and acknowledged that there was still a large amount of work to be carried out for a final version.  They commended the good stakeholder engagement held, which had garnered a good level of support from residents.

The comments made by the Regeneration and Development Panel were noted.

RESOLVED:  1)         That the draft Business Case as set out in appendix 1 to the report be endorsed in order to secure the Town Deal funding.

2)    That the use of the Council’s assets and property interests for the purposes of the project as set out in the Business Case be endorsed.

3)    That delegated authority be granted to the Chief Executive, the Deputy Leader and the Portfolio Holder for Development and Regeneration to approve the final Business Case in their capacity as Council representatives on the Town Deal Board.

4)     That delegated authority be granted to the Section 151 Officer to approve the final Business Case and sign the Business Case Summary Document for submission to government in the Council’s capacity as Accountable Body for the Town Deal.  

5)     That a report be brought to a future Cabinet meeting setting out the due diligence and options appraisals to approve the operating model and business planning for the project. 

6)     That the remaining Riverfront proposals not included in this project, as set out within the report (para 2.9), remain priority projects to be pursued by the Borough Council outside of the Town Deal programme. 

Reason for Decision

To approve the Business Case as the Accountable Body for the Towns Fund to ensure the funding is secured to deliver the Riverfront Regeneration Area project; to deliver the investment priorities in the Town Investment Plan for King’s Lynn and support the long-term economic prosperity of the town