Issue - meetings

To consider a report of the Director of Business, Development and Growth (to follow).

Councillor Alistair Bradley, Executive Leader presented a report of the Director of Business, Development and Growth updating Members on Market Walk.

The report summarised the decisions the Council had made regarding the development of the Market Walk Extension in terms of agreed leases and the recent decision by Marks and Spencer to review all proposed new Simply Food stores following a change in senior personnel at the company. All proposed new sites would be subject to re-appraisal including Chorley and so despite having a signed agreement in place with Reel Cinema, the Council could not currently progress with the scheme under the existing terms for approval for delivery.

To minimise the Council’s financial exposure on the scheme and mitigate against any short term negative impacts the construction work might have, Eric Wright Construction had been instructed to:

·         Complete the drainage and service diversion works that are already underway.

·         To complete the final design works as already commissioned.

·         Cancel the order for piling and piling mat

·         To not confirm any orders that would commit the Council to further expenditure including structural steel and cladding system.

·         To move back the fixed hoarding line by 15.11.17 to make existing hard standing available for 24 public parking spaces

·         To lay an area of temporary tarmac surface to create c.30 car parking spaces to be available for public use by the afternoon of 18.11.17

·         To lay an area of temporary tarmac surface to create an additional c.30 car parking spaces to be available for public use by the afternoon of 25.11.17

·         To further condense the area of the site to the minimum required to enable delivery of remaining scheduled works.

Reel Cinema had been made aware of the situation and had responded positively. There was also interest from a major chain restaurant which was being pursued. To date £2.6m had been approved and committed and the report contained a number of options going forward:

Option 1 – Continue with the extension at the earliest opportunity and that may include seeking a partner to mitigate some of the costs/risks and/or possibly amending the current scheme.

Option 2 – Retain the temporary car park surface and site infrastructure and continue to seek alternate tenants for the existing design.

Option 3 – Consider a redesign of the scheme or other financial models.

Option 4 – Stop and reinstate the Flat Iron Car Park to a high quality permanent finish.

In presenting the report, the Executive Leader referred to a 200 signature petition he had received opposing the development and stated that this would be taken into account, however there was other evidence to be considered:

·         The existing Market Walk units were all fully occupied with other interest from businesses

·         The Council needed a revenue steam going forward to help meet the increasing budget gap

·         Meetings were taking place with traders to listen to their concerns, but ultimately it was for everyone to work together to demonstrate Chorley was open for business now and into the future

·         The public  ...  view the full minutes text for item 470