Decision details

Purpose of Report: To seek an Executive decision to purchase the Unipart factory in order to facilitate the delivery of the York Central scheme.

Due to delays in receiving key pieces of information this item has been deferred to the 24 November Executive.

Resolved:   That Executive agree to:

(i)              The purchase price of the Unipart site as set out in confidential Annex 2 in advance of any potential initiation of a Compulsory Purchase Order.

(ii)             Delegate to the Corporate Director of Economy and Place in consultation with the Corporate Director of Customer and Corporate Services and the Leader to share the purchase cost of the Unipart site with the Homes and Communities Agency on the basis set out in confidential Annex 2.

(iii)           Delegate to the Corporate Director of Economy and Place in consultation with the Corporate Director of Customer and Corporate Services and the Leader the authority to agree the application and terms for a further loan from the Leeds City Region Local Enterprise Partnership (LCR LEP) Local Growth Fund (LGF) to part fund the purchase as set out in confidential Annex 2.

(iv)           Agree that the LEP loans be considered as an element of the £10m budget approved to York Central and therefore the remaining balance of the Unipart acquisition be charged against this CYC approved budget prior to thefinalisation of the York Central partnership agreement and funding strategy.

Reason: To enable timely progress on the York Central project.