Issue - meetings

    Report by Executive Director Alistair Cunningham OBE.

The Leader, Cllr Philip Whitehead, introduced a report for the regeneration of The Maltings and Central Car Park site. Cabinet was asked to recommend to Council the allocation of capital finance towards the acquisition of third-party land holding and fund further development. Cllr Pauline Church, Cabinet Member for Children’s Services and South Wiltshire Recovery, highlighted the proposal would support the economic wellbeing of the city.

Councillors encouraged the Cabinet to progress arrangements as quickly as possible.

Resolved:

a) That cabinet recommends to council the allocation of capital finance towards the acquisition of third-party land holdings and fund further development.

b) The cabinet notes and agrees in principle to the proposed heads of terms as set out in the confidential Part 2 report, notes the financial and legal implications and agrees that officers proceed with the procedures set out therein.

c) That cabinet delegates authority to the Executive Director Growth, Investment and Place, in consultation with the council’s s. 151 Officer, Monitoring Officer, and the Leader of the Council, to conclude such transactions as may be required to deliver the Maltings scheme, subject to receipt of the independent valuations and the agreement of Full Council to allocate capital finance to fund these.

Reasons for decision:

To ensure that regeneration of the Maltings and Central Car Park is delivered in line with the council’s Business Plan and the Maltings Masterplan, generating positive outcomes for Salisbury’s economy.