Decision details

The Cabinet will be asked to approve the detailed terms and conditions, in the form of Intervention Agreements, for funding from the Greater London Authority towards a number of schemes under the Barking Housing Zone programme.

Cabinet resolved to:

(i)  Agree to enter into an agreement with Swan New Homes to transfer the Council’s freehold ownership in land in Cambridge Road, shown in red in Appendix 1 to the report, in return for a 250-year lease at a peppercorn for the ground floor space, as set out in paragraph 3.4 of the report;

(ii)  Agree to enter into an Intervention Agreement with the Greater London Authority for £650,000 of grant funding towards the shell and core and fit-out costs for the ground floor of the Cambridge Road site; and

(iii)  Endorse the funding bid submitted to the London Regeneration Fund for a programme of interventions to establish a Barking Creative Industries Zone.