This decision will ensure the Council is using its assets in the best way to support the vitality of the city centre and generate income to deliver core services.

Approval of expenditure to enable an OJEU procurement process to secure a development partner and operator for Council owned land in the City Centre.

This decision responds to the outcomes of Stage 1 feasibility work which has been carried out.  The most favourable preferred use, or other use, funded by PWLB will require an OJEU process. This requires expenditure of procurement costs to the commercial agent; internal capital officer resource; as well as external legal support in order to now procure, evaluate, and work up the details of the most advantageous deal with a development partner and operator so as to bring a proposal to Cabinet in summer 2023.

Not to approve the expenditure.  This option was rejected because it would not have enabled the Council to progress in using its assets in the best way to support the vitality of the city centre and generate income to deliver core services. 

Other options were considered in the exempt appendix to the report to Cabinet of 26 January 2022.

Decision taken by Tom Bridgman, Executive Director (Development) in consultation with Nigel Kennedy, Head of Financial Services and Susan Sale, Head of Law and Governance.