Decision details

The Executive will be presented with an update report on proposals relating to the New Dagenham Library and One Stop Shop and will be asked to approve arrangements to take the project forward

Received a report from the Corporate Director of Regeneration, Corporate Director of Adult and Community Services and Corporate Director of Customer Services providing further financial details, including proposals to reduce the amount of prudential borrowing required as well as setting out the full revenue implications and provide a civic facility delivering a flagship library and information service.

Rather than a 125 year lease as set out in the recommendations of the report, a 128 year lease was requested to enable sub leases of the civic facilities, retail unit and residential flats for at least 125 years (standard long lease period).  It also assists lease variations being made with the Mall owners, ensuring that servicing rights are provided to the same period.

Agreed, in order to assist the Council in achieving its Community Priorities of ‘Providing Better Education and Learning for all’, ‘Regenerating the Local Economy’ and ‘Raising Pride in the Borough’ and to assist in good planning of the area promoting the social, economic and well being, to:

(i)  The vision and objectives of the Dagenham Library and One Stop Shop as outlined in the report;

(ii)  The Dagenham Library replacing Rectory and Fanshawe libraries and the One Stop Shop replacing provision at Stour Road;

(iii)  Authorise the Corporate Director of Regeneration to enter into a Development Agreement and a 128 year lease with Bouygues UK for the development of the new Dagenham Library/One Stop Shop with the sources of identified funding as set out in the report being utilised to minimise the requirement for prudential borrowing;

(iv)  Allocate £3.367m from Capital resources in 2008/09 -2010/11 to bridge the current project funding shortfall, to be funded from borrowing at an annual cost of £269,400;

(v)  The reallocation of capital resources of £4.471m from Regeneration initiatives, the interim One Stop Shop and other existing capital resources be reallocated to the Dagenham One Stop Shop / Library project;

(vi)  Where financial resources are held in 2007/08, that they are rolled over into 2008/09 and future years;

(vii)  The additional borrowing costs of £269,400, operational costs of the One Stop Shop £471,000 per annum, and the library £445,000 per annum be included in the medium term financial model;

(viii)  Not progressing the interim One Stop Shop at Stour Road;  and

(ix)  The closure of the walk-in facility at Stour Road and the Cash Office at Dagenham.