Issue - meetings

This report provides details of ongoing work to acquire third party properties on the York Central site in order to assemble all the strategically important parts of the site under the ownership of the York Central Partners and sets out proposals to purchase the Unipart site to the rear of the railway station.

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.

The Executive considered a report which set out proposals to purchase the Unipart Rail site to the rear of the railway station, one of the third party properties on the York Central site required to assemble all the strategically important parts of the site under the ownership of the York Central Partners.

Members noted that the City of York Council were leading the land assembly strategy for York Central and that, owing to the need to reprovide the Unipart facility elsewhere the purchase value of the site would be above the market value of the current site. Consideration was also given to the funding of the acquisition and the risks involved which it was noted would be regularly reviewed by the project board.

Officers confirmed that ongoing confidential negotiations were currently taking place regarding site funding costs, details of which would be publically available following the sale.

Members expressed their support for the sale which would ensure that Unipart remained in the city and their agreement of the final purchase price set out in the report.

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. ^1.

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