Decision details

Executive considered a report of the Portfolio Holder – Economic Development which set out outline business cases for a potential phase-3 development of industrial units at land adjacent to The Tangent Business Hub, Shirebrook and a potential commercial property development on land on Portland Drive, Shirebrook.

The report sought approval to allocate a provisional sum from the Transformation Reserve to undertake RIBA Stages 1-3, which would include site surveys, architectural drawings, cost plan, planning application and associated frees, as well as an outline specification and design programme.  The report set out information about submitting a Levelling Up Fund application to secure grant funding for the two projects but also sought endorsement for alternative financing (subject to Council approval) should the Levelling Up application be unsuccessful or to lengthy a process for award and delivery.

Moved by Councillor Liz Smyth and seconded by Councillor Duncan McGregor

RESOLVED that;

1)    a provisional sum, as detailed in the report, be allocated from the Transformation Reserve to undertake pre-contractor works up to and including RIBA Stage 3, on the basis that a further report be brought back to Executive following the procurement exercise of the design team with the confirmed contract value.

2)    the investment in the development of the industrial units on Portland Drive, Shirebrook as identified in the report and funded through a Levelling Up Fund bid (an estimated cost was set out in the report), be supported.

3)    the investment in the development of the industrial units on land adjacent to The Tangent Business Hub, Shirebrook as identified in the report and funded through a Levelling Up Fund (an estimated cost was set out in the report), be supported.

4)    the investment in the development of the industrial units on Portland Drive, Shirebrook as identified in the report and funded through borrowing (an estimated cost was set out in the report), subject to a future report to Council for approval, be supported.

5)    the investment in the development of the industrial units on land adjacent to The Tangent Business Hub, Shirebrook as identified in the report and funded through borrowing (an estimated cost was set out in the report), subject to a future report to Council for approval, be supported.

6)    subject to a satisfactory viability appraisal based on the contract value, the Assistant Director of Development and Planning be given delegated authority to procure, negotiate and enter a contract for the design team.

(Director of Development)

REASON FOR DECISION:

Each of the two sites offered accommodation which was in high demand.  The capital investment would generate a longer term revenue source for the authority, whilst contributing to the Council’s strategic objectives of increasing business growth, increasing business rates retention, and supporting economic growth through offering a diverse range of commercial property accommodation with the district.

OTHER OPTIONS CONSIDERED:

Alternative options for the two sites were set out in the report.

(Paragraph 3)