Agenda item

Decision:

 

RESOLVED:   1)         That the Chief Executive, in consultation with the Regeneration Portfolio Holder, be authorised to agree a revised business rates allocation with NALEP in order to increase the size of Pot B by reducing in equal measures Pots A and C until such a time as the full cost of the infrastructure has been repaid to the Borough Council.

 

2)         That delegated authority be granted to the Chief Executive in consultation with the Regeneration Portfolio Holder and Assistant Director (Section 151Officer) to complete the Agreement related to the allocation of business rates generated in New Anglia Space to Innovate Enterprise Zone with NALEP.

 

3)         That delegated authority be granted to the Property Services Manager in consultation with the Assistant Director (Section 151) and the Regeneration Portfolio Holder and the Assistant Director (Section 151) to  negotiate the co-investment proposal with NALEP

 

4)         That delegated authority be granted to the Property Services Manager in consultation with the Regeneration Portfolio Holder to progress development opportunities on Nar Ouse Business Park, including entering into pre-let agreements with potential tenants and commencing with the design and procurement of works.

 

5)         That delegated be granted authority to the Chief Executive in consultation with the Regeneration Portfolio Holder to commission and complete necessary legal documentation to develop detailed design and procurement of site infrastructure. 

 

6)         That the capital programme 2016/20 be amended to include the costs associated with the site infrastructure, development opportunities and funding arrangements  for Nar Ouse Business Park set out in paras 3.5 & 3.6 of the report.

 

7)         That  the Treasury Management Strategy be amended to ensure adequate borrowing limits are available to accommodate the Nar Ouse Business Park capital works.

 

8)         That delegated Authority be granted  to the Chief Executive in consultation with the Regeneration Portfolio Holder, Executive Director Development and Regeneration, and the Development Portfolio Holder to progress with the planning strategy for the Nar Ouse Business Park in preparation of the outline consent expiring in November 2019.

 

9)         That the development of a comprehensive marketing strategy to promote the Nar Ouse Enterprise Zone to investors, developers and businesses be approved.

 

Reason for Decision

 

This proposal meets the following corporate objectives to stimulate business growth and investment and remove physical barriers to growth.

 

Minutes:

Cabinet considered a report which explained that the Nar Ouse Regeneration Area was designated Enterprise Zone status by the Government in April 2016 as part of a multi-site New Anglia Local Enterprise Partnership (NALEP) Space to Innovate Enterprise Zone. The report followed on from the previous report to Cabinet on 9th September 2015. The report outlined the arrangements and approvals required for delivery of the Enterprise Zone to facilitate development of the employment land at the Nar Ouse Business Park.

 

Cabinet discussed the partnership arrangement with the LEP for the development.

 

Under Standing Order 34, Councillor Pope asked what the life span of the agreement with the LEP and what the financial arrangements were for sharing any income.   It was explained that it was a 25 year agreement with the LEP, and the sharing arrangements would depend on the investment made.

 

Councillor Pope also sought information on the movement of pipes across the site and the timings to which it was explained that ongoing discussions were being held with the company to schedule a time.

 

It was also noted that discussions were currently being held with interested tenants for the site.

 

It was proposed that recommendation 1 be amended as follows:

 

That the Chief Executive, in consultation with the Regeneration Portfolio Holder, be authorised to agree a revised business rates allocation with NALEP in order to increase the size of Pot B by reducing in equal measures Pots A and C until such a time as the full cost of the infrastructure has been repaid to the Borough Council.

 

This was agreed.  

 

RESOLVED:   1)         That the Chief Executive, in consultation with the Regeneration Portfolio Holder, be authorised to agree a revised business rates allocation with NALEP in order to increase the size of Pot B by reducing in equal measures Pots A and C until such a time as the full cost of the infrastructure has been repaid to the Borough Council.

 

2)         That delegated authority be granted to the Chief Executive in consultation with the Regeneration Portfolio Holder and Assistant Director (Section 151Officer) to complete the Agreement related to the allocation of business rates generated in New Anglia Space to Innovate Enterprise Zone with NALEP.

 

3)         That delegated authority be granted to the Property Services Manager in consultation with the Assistant Director (Section 151) and the Regeneration Portfolio Holder and the Assistant Director (Section 151) to  negotiate the co-investment proposal with NALEP

 

4)         That delegated authority be granted to the Property Services Manager in consultation with the Regeneration Portfolio Holder to progress development opportunities on Nar Ouse Business Park, including entering into pre-let agreements with potential tenants and commencing with the design and procurement of works.

 

5)         That delegated be granted authority to the Chief Executive in consultation with the Regeneration Portfolio Holder to commission and complete necessary legal documentation to develop detailed design and procurement of site infrastructure. 

 

6)         That the capital programme 2016/20 be amended to include the costs associated with the site infrastructure, development opportunities and funding arrangements  for Nar Ouse Business Park set out in paras 3.5 & 3.6 of the report.

 

7)         That  the Treasury Management Strategy be amended to ensure adequate borrowing limits are available to accommodate the Nar Ouse Business Park capital works.

 

8)         That delegated Authority be granted  to the Chief Executive in consultation with the Regeneration Portfolio Holder, Executive Director Development and Regeneration, and the Development Portfolio Holder to progress with the planning strategy for the Nar Ouse Business Park in preparation of the outline consent expiring in November 2019.

 

9)         That the development of a comprehensive marketing strategy to promote the Nar Ouse Enterprise Zone to investors, developers and businesses be approved.

 

Reason for Decision

 

This proposal meets the following corporate objectives to stimulate business growth and investment and remove physical barriers to growth.