Issue - meetings

Funding for West End Housing Projects

 

 

Meeting: 29/05/2012 - Cabinet (Item 11)

11 Funding for West End Housing Projects pdf icon PDF 72 KB

(Cabinet Member with Special Responsibility Councillor Hanson)

 

Report of Head of Regeneration and Planning

Minutes:

(Cabinet Member with Special Responsibility Councillor Hanson)

 

Cabinet received a report from the Head of Regeneration and Planning to obtain authority to spend ‘ring-fenced’ receipts on the Bold Street regeneration project.

 

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

 

 

Option 1: Utilise “ring-fenced” receipts to acquire and demolish Bold Street properties

Option 2: Do not utilise receipts for this proposal

Advantages

Signals progress on West End regeneration

Removes eyesores properties

Maintains credibility in negotiations to acquire further properties

Makes some ongoing revenue savings.

More money available for Chatsworth gardens (or other schemes, though any not related to West End housing would require a change to the MTFS).

Disadvantages

Reduces money available for Chatsworth Gardens or other schemes.

Properties remain empty and deteriorating, with costs and liabilities attached.

Reduces confidence in West End

Loss of “goodwill” with owners

Risks

Negotiations prove unsuccessful

Spiral of decline

 

Option 1 was the officer preferred option.  There was an immediate and pressing need for action on Bold Street. Whilst the proposal was effectively using funds that could potentially be earmarked for Chatsworth Gardens, it was considered that the proposal made the most appropriate use of some fairly limited resources available to the council.  Given the scale of this project, and the expectation that the HCA would take a positive approach going forward, it was not considered that this sum would be critical to finding a solution to the Chatsworth Gardens project.

 

 

Councillor Hanson proposed, seconded by Councillor Smith:-

 

“(1)      That the recommendation, as set out in the report, be approved.”

 

Councillors then voted:-

 

Resolved unanimously:

(1)        That Cabinet agrees to re-use the income from the sale of 9 & 11a Bold St, to fund further property acquisitions, demolitions  and temporary re-surfacing elsewhere in Bold Street and that the Capital Programme be updated accordingly.

 

 

 

 

Officers responsible for effecting the decision:

 

Head of Regeneration and Planning

Head of Financial Services

 

Reasons for making the decision:

 

Regenerating the West End of Morecambe has been a long-standing corporate priority, subject to funding being identified, and was central to the council’s health and well being and economic growth aspirations as set out in the Corporate Plan and Local Development Framework.  There was an immediate and pressing need for action on Bold Street and the proposal would have local community safety benefits by removing derelict properties which are susceptible to illegal and anti-social activities.