Decision details

The Executive will be asked to consider the masterplan for the redevelopment of the eastern end of Thames View

Received a report from the Chief Executive concerning proposals to provide affordable housing and regenerate Thames View.

Agreed, in order to assist the Council to achieve all of its Community Priorities to;

  (i)  Authorise the Director of Resources (subject to funding) to acquire the remaining five properties at the eastern end of Thames View Estate at above market levels if necessary on the grounds that this will enable the Council’s proposals for the eastern end of Thames View estate to go ahead without the delay and additional costs that would be entailed through a CPO process;

  (ii)   The main principles of the Masterplan for Thames View as outlined in section 2 of the report;

  (iii)  Approve the medium density option at the eastern end of Thames View and to housing development on the former garage sites;

  (iv)  To further sites (as identified in section 2.2.3 of the report) being explored at Thames View for possible redevelopment;

  (v)  That the principles of the Thames View Masterplan be incorporated into a draft Supplementary Planning Document for public consultation;

  (vi)  That the draft Heads of Terms be used as the basis for concluding contract negotiations with Southern Housing Group;

  (vii)  That the Legal Partner Procurement, Contracts and Property and the Divisional Director of Corporate Finance be jointly given delegated powers to negotiate and settle final contract documents as anticipated by the draft Heads of Terms;

  (viii)  Note that a further report will be brought to Executive once contractual documentation has been finalised (including details of any substantive variation from the transactions contemplated by the Heads of Terms) which is anticipated to be in September 2009.  This further report will set out details of

·  contractual terms

·  funding terms provided by HCA and EIB

·  BRHIC business plan and financial model

·  other relevant information;

(ix)  That the Council enters a Development Agency agreement with SHG  whereby the Council indemnifies SHG for costs (estimated at up to £500k) incurred in obtaining a detailed planning permission for land at Thames View in the event that the BRHIC is not established; and

  (x)   That the Legal Partner, Procurement, Contracts and Property and Divisional Director of Corporate Finance are collectively given delegated powers to negotiate the Development Agency agreement terms.