Agenda item

Noted:

·  The Cabinet Committee’s agreement of the Site Development Plan (SDP) for Haymill and the delegation of authority to the Executive Director of Property, Planning & Housing in consultation with the Lead Member for Financial Oversight and Council Assets and the section 151 officer to pursue a disposal strategy (including the negotiation and agreement of legal documents that give effect to the disposal) and to report back to Cabinet for approval of the Adopted SDP and the final agreed disposal terms, subject to the demonstration of best value consideration for the disposal.

·  The progress and status of key sites including the North West Quadrant (NWQ) site, Montem Lane, Stoke Wharf and Wexham.

·  That the 2023 updated SUR business plan (covering the five-year period 2023 – 2028) be agreed.

The Cabinet considered the recommendations of the Cabinet Committee from its meeting held on 14^th September 2023 in relation Slough Urban Renewal (SUR).  The Cabinet was asked to approve the updated SUR Business Plan and to note the decisions of the Cabinet Committee regarding the Site Development Plan for Haymil and the progress of other sites.

The report was supported by several appendices which contained exempt information.  These were considered by the Cabinet during Part I of the meeting without disclosing any of the exempt information.

The background to the SUR joint venture partnership was noted.  The approval of the business plan by Cabinet was an annual requirement.  In view of the financial circumstances of the Council the 2023 plan continued the approach which included no further sites being developed by SUR and no additional capital commitments to be provided by the Council.  The plan was to dispose of key sites opted to the SUR which would reduce the Council’s future financial commitments, generate disposal receipts, reduce borrowing requirements and significantly reduce the Council’s risk profile.  The disposal of SUR opted sites aligned to the objectives of the wider Asset Disposal Strategy and the Corporate Plan.  The updates on the disposals of the North West Quadrant and Montem Lane sites previously agreed by Cabinet were noted.

The Cabinet agreed the recommendations.

Resolved –

(a)  That it be noted that the Cabinet Committee had agreed the Site Development Plan (SDP) for Haymill and the delegation of authority to the Executive Director of Property, Planning & Housing in consultation with the Lead Member for Financial Oversight and Council Assets and the section 151 officer to pursue a disposal strategy (including the negotiation and agreement of legal documents that give effect to the disposal) and to report back to Cabinet for approval of the Adopted SDP and the final agreed disposal terms, subject to the demonstration of best value consideration for the disposal.

(b)  That the progress and status of key sites including the North West Quadrant (NWQ) site, Montem Lane, Stoke Wharf and Wexham be noted.

(c)  That the 2023 updated SUR business plan (covering the five-year period 2023 – 2028) be agreed.