Council considered the recommendation made by Cabinet at its meeting held on 20 June 2018 relating to the budget for the design phase of the redevelopment of Thameside House.
Resolved to approve the capital expenditure budget of £3.75m for the design phase of the project for the redevelopment of Thameside House for 2018/19 - 2019/20.
Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information)
Cabinet considered an exempt report seeking their recommendation to Council for an expenditure budget for 2018/19 to 2019/20 for the provision of a design team for the redevelopment of Thameside House, and delegated authority to be given to the Group Head of Regeneration and Growth in consultation with the portfolio holder to appoint the advisors and design team.
Alternative options considered and rejected:
To withhold approval resulting in the property remaining empty
Resolved:
1. To recommend to Council that the capital expenditure budget for 2018/19 to 2019/20, as set out in the report, be approved.
2. To authorise the Head of Corporate Governance to enter into any legal documentation necessary to implement the redevelopment project and
3. To delegate the appointment of the advisors and design team to the Group Head of Regeneration and Growth in consultation with the Portfolio Holder.
Reasons for recommendation:
· Redevelopment of existing offices on site to residential would regenerate a site which was becoming an eyesore for the town.
· The ongoing revenue stream (once the works have been completed) will assist in the future long financial stability of the Council.