Issue - meetings

This report sets out details of an application to lift the restrictive covenant of an office site on the Pioneer Business Park for low-cost residential development.

Resolved:  That the request to remove the restrictive covenant on an office site on the Pioneer Business Park for low-cost residential development be agreed in return for the capital sum detailed in annex C of the report.

Reason:     To enable the provision of apartments at reasonable cost in an area of surplus office accommodation.

The Cabinet Member considered a report which set out details of an application to lift the restrictive covenant on an office site on the Pioneer Business Park for low-cost residential development. 

It was noted that the application was in accordance with the Asset Management Policy on lifting restrictive covenants on Clifton Moor and that a capital receipt had been agreed in accordance with the policy.

The Cabinet Member considered the options detailed in paragraphs 8 to 10 of the report.  He stated that, although it was disappointing that there was not the demand for office accommodation on the site, he also recognised that there was a need for additional housing in the city.  He therefore believed that, on balance, the proposals were a positive move and that the covenant should be lifted.

Resolved:  That the request to remove the restrictive covenant on an office site on the Pioneer Business Park for low-cost residential development be agreed in return for the capital sum detailed in annex C of the report.

Reason:     To enable the provision of apartments at reasonable cost in an area of surplus office accommodation.