Agenda item

(a)  That it be noted that a follow-up report would be presented to Cabinet for consideration in June 2016 which will be accompanied by a full business case to support the redevelopment of the Old Library site;

(b)  That delegated authority be given to the Assistant Director - Assets, Infrastructure & Regeneration, following consultation with the relevant Cabinet member, to negotiate and complete an agreement for the surrender of the existing lease of and for the grant of a new lease of part of Burlington Road car park outlined in red in the plan (Appendix A to the report).; and

(c)  That the procurement of the surrender of the lease of Burlington Road car park is for the benefit, improvement or development of the Council’s area.

An initial report was considered on proposals for the development of the library site, seeking to establish the timing of the full business case for a mixed-use development, which would include proposals for a quality branded hotel.  Authority was also sought to negotiate and complete an associated, preparatory land transaction involving the surrender by the Council’s tenants of their lease of Burlington Road car park and the grant to them of a new lease of a smaller part of the site, but for a longer term.

The Council owned the site and work was underway to develop a full masterplan and business case to maximise the potential of the key site when services moved across to The Curve.  The Cabinet welcomed the work that had been done to have a clear plan in place for the future use of the site and commented that a strong proposal would complement the range of other major scheme underway and planned for the town centre.  It was agreed to receive a further report in June 2016 on the business case for the proposal and it was also agreed to delegate authority to resolve the lease issues for part of the Burlington Road car park.

Resolved –

(a)  That a follow-up report would be presented to Cabinet for consideration in June 2016 which would be accompanied by a full business case to support the redevelopment of the Old Library site;

(b)  That delegated authority be given to the Assistant Director - Assets, Infrastructure & Regeneration, following consultation with the relevant Cabinet member, to negotiate and complete an agreement for the surrender of the existing lease of and for the grant of a new lease of part of Burlington Road car park outlined in red in the plan (Appendix A to the report).; and

(c)  That the procurement of the surrender of the lease of Burlington Road car park is for the benefit, improvement or development of the Council’s area.