Issue - meetings

Strawberry Meadows Development Update

Meeting: 16/11/2021 - Council (Item 90)

Strawberry Meadows Development Update

To receive and consider the report of the Director of Commercial.

Additional documents:

  • Restricted enclosure 2
  • Restricted enclosure 3
  • Restricted enclosure 4
  • Restricted enclosure 5
  • Restricted enclosure 6

Decision:

1.         That the funding model based on 100% rentals.

2.         That in accordance with the Getting Building Fund that priority on lettings will be given to businesses creating the most jobs and/or who are using the units for research and development outputs to ensure compliance with the requirements of that funding stream.

Minutes:

The Executive Leader, Councillor Alistair Bradley, presented the confidential report of the Director of Commercial. 

 

The report set out the general progress on the Strawberry Meadows development, including partner involvement, the budget and financial position of the scheme and the assessment undertaken in respect of the Council’s eligibility to utilise Public Works Loan Board (PWLB) borrowing for the scheme further to the changes made by the Treasury in November 2020.

 

The Leader of the Opposition, Councillor Martin Boardman, queried the additional borrowing and noted that the figures were set out in Appendix 2.  Further detail regarding the alternative options would be provided following the meeting.  At the current time, from a financial perspective, the best option was the rental model.  This could change in the future and a report would be brought back to council if necessary. 

 

The Executive Leader, Councillor Alistair Bradley proposed and the Deputy Leader, Councillor Peter Wilson seconded the (majority) Decision

1.         That the funding model based on 100% rentals.

2.         That in accordance with the Getting Building Fund that priority on lettings will be given to businesses creating the most jobs and/or who are using the units for research and development outputs to ensure compliance with the requirements of that funding stream.