Decision details

To update on the progress made since September 2016, reaffirm the financial business case and seek delegated authority to enter into contract with Slough Urban Renewal and the hotel operator.

Hotel Element

(a)  That the updated financial report contained in Appendix One to the report, which updated Cabinet members on costs, income and payback be approved.

(b)  That delegated authority be given to the Interim Chief Executive or nominated deputy, acting following consultation with the s151 Officer and the Leader and Commissioner for Housing and Urban Renewal, to:

i.  Agree and enter into an Agreement for Lease with landlord’s works obligations and subsequent Lease of part of the Old Library Site for a 25-year lease term with a hotel operator for the two hotels, noting that this term could be extended to 40 years to match the offer from the hotel operator;

ii.  Agree and, where the Council is a party, enter into the additional legal agreements set out in sections 5.15 and 5.16 of this report and any other ancillary agreements required to give effect to the redevelopment proposals for the site;

iii.  Consider whether to appropriate to planning purposes the Council-owned land required for the development which is currently held by the Council for other purposes and, if he considers it appropriate to do so, to effect the appropriation of such land to planning purposes subject to complying with the statutory procedures for such appropriation;

iv.  Take any other necessary actions, acting in the best interests of the Council, in order to enable the redevelopment of this element of the site for hotel use as set out in this report.

Residential Element

(c)  That the disposal of part of the OLS to SUR to develop the residential/ restaurant element of the overall project be authorised for a valuation sum that represents no less than the best consideration reasonably obtainable.

(d)  That delegated authority be given to the Assistant Director, Assets Infrastructure & Regeneration or nominated deputy following consultation with the Leader and the Council’s section 151 officer to:

i.  Agree the final valuation sum.

ii.  Consider whether to appropriate to planning purposes the Council-owned land required for the development which is currently held by the Council for other purposes and, if he considers it appropriate to do so, to effect the appropriation of such land to planning purposes subject to complying with the statutory procedures for such appropriation;

(e)  That delegated authority be given to the Assistant Director Assets, Infrastructure and Regeneration following consultation with the Cabinet Member for Housing & Urban Renewal to:

i.  Approve all non-financial terms for disposal.

ii.  Agree and, where the Council is a party, enter into the additional legal agreements referred to in sections 5.15 and 5.16 of this report and any other ancillary agreements, required to give effect to the redevelopment proposals for this element of the site and take all necessary any other necessary actions, acting in the best interests of the council, to give effect to the proposals.

Partnership Business Plan

(f)  That delegated authority be given to the Interim Chief Executive, following consultation with the Leader of the Council and the Commissioner for Housing & Urban Renewal, to approve the Site Development Plan for the redevelopment of the Old Library Site prepared by SUR.