Issue - meetings

This report sets out a new approach to delivering the spatial and infrastructure requirements dictated by the city’s economic ambitions, and seeks an in-principle decision by members as to exploring this new model against a full options appraisal to be brought back to Cabinet in the New Year.

Resolved:  That  Cabinet:

i)             Agree in principle to a more strategic and proactive model for bringing forward investment in development of key sites, based on the objectives set out in Para 16 of the report.

ii)            Approve the development and engagement of potential investor partners to develop options for a new model, with the intention of a full options appraisal and business case being brought back to Cabinet in the New Year.

iii)          Approve the city’s representation at MIPIM 2014 as the next step in engaging with potential investors and developers as part of developing the new model.

Reason:    To enable the city to make a step change improvement in development of key and strategic sites.

Consideration was given to a report which set out details of a new approach to delivering spatial infrastructure requirements arising from the city’s economic ambitions outlined in the two earlier reports considered at the meeting.

Members were asked to give an in-principle decision to explore the new model against a full options appraisal with the intention of reporting back to Cabinet in the New Year. A request was also made for the Council’s involvement in the international property event MIPIM in 2014 to carry forward and build on contacts and leads made at the previous year’s event.

Further information in relation to the investment model proposed, used by other cities and local authorities, was set out in detail at paragraphs 17 to 26 and Appendix 1 of the report, with the timetable for development and benefits to the city at paragraphs 27 to 31.

Officers confirmed that, following discussions with potential investors the need to take these proposals forward or opportunities would be lost.

Following further discussion it was

Resolved:  That Cabinet:

i)             Agree in principle to a more strategic and proactive model for bringing forward investment in development of key sites, based on the objectives set out in Para 16 of the report.

ii)            Approve the development and engagement of potential investor partners to develop options for a new model, with the intention of a full options appraisal and business case being brought back to Cabinet in the New Year. ^1.

iii)          Approve the city’s representation at MIPIM 2014 as the next step in engaging with potential investors and developers as part of developing the new model. ^2.

Reason:    To enable the city to make a step change improvement in development of key and strategic sites.