Decision details

The Town Hall Site Redevelopment is at a key juncture whereupon the Council has negotiated the terms of the proposed redevelopment.

The purpose of this report is to record that the Council has signed and exchanged the legal agreements that will allow the Council to move to the next stage.

In February 2017, the Council agreed the deliverables of the Town Hall Site redevelopment, the budget lines to achieve this, as detailed in report DCE/02 and the delegated powers to develop and proceed with the development.

The scheme outlined in that report included a new Town Hall, commercial space above the Town Hall (Council to be the landlord), 250 residential units of which 40% would be affordable, a District Heat Network, a new public square, and improvements to Exchange Road Car Park.

The same report delegated the negotiation of the terms of relevant legal documentation to the Deputy Chief Executive, in consultation with the Leader of the Council, the Head of Legal, Democracy and HR

The Deputy Chief Executive, in consultation with the Leader of the Council, the Head of Legal, Democracy and HR as approved the sign off of Stage 3 of New Town Hall Site Redevelopment, namely Council has signed and exchange the legal agreements that will allow the Council to move to the next stage.

The options analysis was considered as part of the February 2017 report cited above.

Following that decision the options were to proceed or not to proceed.

The scheme as set out in the legal agreements delivers in full the scheme as envisaged, with an uplift of housing to 273 unit of which 109 will be affordable (40%). Cost planning at this stage shows that the project can be delivered on budget (as defined in report DCE/02 and agreed by Full Council in February 2017) and independent advisors have concluded that the deal meets our duty to achieve best value on the land, and that it is state aid compliant.