Agenda item

To appoint the successful partner and establish the Joint Venture Partnership for Church Street Site A.

The Chair introduced the item and invited Councillor Noble to speak to the report, followed by Debbie Jackson, Executive Director of Regeneration, Economy and Planning.

Councillor Noble noted the significance of the decision, particularly in the context of the length of time the Council and community have been discussed the regeneration of Church Street.

Councillor Noble highlighted the merits of the scheme, particularly in its delivery of genuinely affordable housing, support from the resident community as demonstrated through a 73% supportive ballot and subsequent investment from the Greater London Authority.

Councillor Noble placed on record his thanks to the officers who have worked to bring the Joint Venture forward as well as those from the community who ensured resident voice has been at the heart of the process.

Debbie Jackson highlighted that the recommendation to appointment Mount Anvil is the outcome of an extensive public sector procurement process which has been robust and designed to ensure best value to the local authority.

Debbie Jackson placed on record her thanks to all those who participated in the bidding process, including those bidders who were unsuccessful.

The Chair noted the importance of bringing this decision forward and the positive investment this will result in for Church Street for many years ahead.

RESOLVED: Cabinet approved the following recommendations

·       Approve the appointment of Mount Anvil New Holdings Limited (Registered Company Number: 07209710) (“Mount Anvil”) as the Council’s joint development partner for the Church Street Site A development

·       Approve the incorporation of a Limited Liability Partnership (LLP) to be the corporate entity for the JV, with both the Council and Mount Anvil as the Members of the LLP (“JV”).

·       Delegate to the Executive Director of Regeneration, Economy and Planning in consultation with the Executive Director of Democracy, Law and People, Executive Director of Finance and Resources and Executive Director for Environment, Climate and Public Protection in the Council’s capacity as landowner (as counterparty to the Development Agreement and other related agreements) and as a member of the LLP to finalise and enter into all the legal and financial documents required to set up the JV LLP and to proceed with the Church Street Site A development with Mount Anvil including the legal agreements set out at Appendix 3 and all other necessary and ancillary documents including approval of the initial Business Plan of the JV LLP and the appointment of the Council representatives of the JV.

·       Delegate authority to the Cabinet Member for Finance and Council Reform in consultation with the Cabinet Member for Housing to take a future decision to appropriate the land, for planning purposes, prior to the lease disposal to the JV pursuant to Section 122 of the Local Government Act 1972 and the subsequent use of the powers under section 203 of the Housing and Planning Act 2016.

·       Delegate authority to the Cabinet Member for Finance and Council Reform in consultation with the Cabinet Member for Housing to take a future decision to dispose of the land to the JV by way of lease as further detailed in paragraph 8.17 of the report.

·       Delegate authority to the Executive Director of Democracy, Law and People to amend the Terms of Reference of the Shareholder Committee (if required) as they consider necessary in order to best cater for the Council’s role as Member of the JV LLP.