Issue - meetings

A copy of the report that was considered by Council on 16 July is attached.

Members received a copy of the report which had been presented to Council on 16 July 2013 regarding the position on the Development Agreement for the bus station site. It was reported that since the Council meeting there had been further dialogue and activity with the Tin Hat Partnership regarding detailed planning arrangements and action taken to determine non-material changes to the outline application to accommodate the TA building, and to prepare for submissions of reserve matter applications. Tenders for the construction were due to be sent out soon, with work to commence in March 2014 and the comprehensive scheme to be finished in summer 2015. Sainsbury’s had been actively involved in progressing the detailed specifications.

Concern was expressed regarding the possible lifespan of a cinema, considering the increasing ability to stream movies at home, and the likelihood that the restaurants would remain in the development in the event that the cinema closed. It was noted that a 15 year lease would be provided for the cinema operator. Whilst the scheme as a whole was considered a risk, this would need to be highlighted as a particular risk.

The financial arrangements were discussed, including the agreement of the council to lend to Tin Hat at 7.5%, the foregoing of a capital receipt of £2.75m in order to secure £1.2m and the security of the funding. It was noted that the loan to the Tin Hat Partnership was underwritten by Wilson Bowden and Barratts as parent companies. The reason for a 30-year loan was queried, and officers agreed to revisit this.

Councillor Ladkin left the meeting at 9.14pm.

The importance of linking the bus station development with the town centre was reiterated, including the possibility of a public transport link. It was also suggested that public transport links with other parts of the Borough be improved, particularly with the Leisure Centre also potentially moving to the town centre.

Officers addressed the questions and comments made by Members and it was

RESOLVED – regular (at least quarterly) updates be brought to the Commission.