HCA Local Investment Plan and Strategic Development Sites Update
(Exempt under Paragraph 3 of the Act – information relating to the financial or business affairs of any person (including the Council))
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Minutes:
The Director of Housing and Neighbourhood Services submitted an update on the progress made in developing a Local Investment Agreement with the Homes and Communities Agency for the period 2011/14. The report also identified the key regeneration development sites proposed for release to support the delivery of the investment programme.
A draft Local Investment Plan (LIP) for Rotherham had been developed, including a range of investment proposals, to be delivered within identified spatial priority area. The proposals required £52M of HCA investment support to enable delivery of the programme.
The Plan contained proposals to deliver continued investment activity in a number of localities, utilising Council-owned strategic development sites, to support delivery. The sites had been assembled as a result of neighbourhood investment activity including selective demolition programmes and strategic acquisitions.
It was proposed that the sites be allocated to support delivery of the LIP and be released following a competitive developer partner procurement process utilising the HCA’s Delivery Partner Panel Framework. The aim was to develop a long term partnership between the Council, HCA and private developer(s) to invest in and deliver future development activity including recycling investment returns.
Resolved:- (1) That the proposed release of the identified sites through the Home and Communities Agency Developer Partner Procurement Framework to achieve the regeneration aims and objectives set out in the Local Investment Plan be supported.
(2) That the release of the sites be supported on the basis of a deferred capital receipt to support the long term regeneration aims of the Borough.
(3) That the report be referred to the Cabinet for consideration.
(Exempt under Paragraph 3 of the Act – information relating to the financial or business affairs of any person (including the Council))