Agenda item

To consider the report of the Leader of the Council and Cabinet Member for Environment concerning the continuing delivery of Kings Quarter and required approvals.

As Appendices B-F contain exempt information as defined in Paragraph 3 of Schedule 12A of the Local Government Act 1972 as amended (information relating to the financial or business affairs of any particular person (including the authority holding that information), should Members wish to discuss the information contained in these appendices, Council will need to resolve to exclude the press and public from the meeting and move into private session at the end of the public part of the meeting.

56.1    Councillor Cook moved and Councillor Hannah Norman seconded the motion. Councillor Cook outlined that the report related to previous discussions and that the appointment of a delivery partner was key. The scheme built on planning permission as it stood and that there was a proposed increased of office space at plot. Councillor Cook further stated that the report included detailed financial viability that had been received as well as plans to assist with cash flow.

56.2    Councillor Stephens shared his view that this was an exciting scheme which would breathe new life into the city centre and was a clear message to investors that it had broad support. He also thanked Councillor Cook for his continued consultation and communication with all political groups. Councillor Stephens believed that risks associated with Covid-19 had been mitigated by, for example, a good mix of use on the site.

56.3    Councillor Hilton stated that he was pleased the Council would be signing the final contractual agreement and expressed his support for the developing scheme.

56.4    Councillor Taylor stated that he had seen much detail through the Planning Committee and that he fully supported the motion.

56.5    Councillor Hannah Norman thanked Members for the cross-party support that had been shown. She advised that the developers were already on site and developing this ambitious project. Councillor Norman thanked officers particularly for their efforts in mitigating risk.

56.6    RESOLVED:-  

1        That The Head of Place in consultation with the Leader of the Council and Cabinet Member for Environment, the Head of Policy and Resources and the Council Solicitor is authorised to enter into a Development Agreement with our partner to implement the construction and development of Kings Quarter The Forum in its entirety at an estimated total cost to the Council of £107m, to create a high quality mixed use hub, packed with community features aimed at attracting new companies to Gloucester, based on the latest proposal outlined in this report.

2        Authority be delegated to the Head of Place in consultation with the Council Solicitor to take all necessary steps and undertake necessary procedures, including entering into any legal arrangements or other documentation as may be required to implement or facilitate the Kings Quarter The Forum Redevelopment Scheme.

3        That the estimated total cost be incorporated into the council’s Capital Programme and Treasury Management Strategy.