RESOLVED to approve a budget of £125,000 to be met from the Property Investment Reserve, to put funds in place to see the project through stages 3 and 4 as detailed in the revised timeline and to allow the feasibility work detailed in Exempt Annexe 1 to the agenda report.
|
|
|
£ |
|
Stage 3 |
Procurement - prepare tender documents and go out to procurement |
50,000 |
|
Stage 4 |
Tender returns, dialog with interest parties and contract negotiations |
50,000 |
|
Incidental Work |
Feasibility work to free up site and aid project delivery – as detailed in exempt annexe |
25,000 |
|
|
|
125,000 |
Reason: Following the Executive approval in March 2022, officers have been working with external property advisers, Montagu Evans, on progressing the project with the focus on a mixed-use housing and supermarket provision in support of the Local Plan Part 2.
[Resources Overview and Scrutiny Committee]