Graven Hill Update
Exempt Report of Commercial Director (Bicester)
Additional documents:
Decision:
Resolved
(1) That the work being carried out by the Graven Hill Development Company be noted.
(2) That it be noted the Delivery Plan and Financial model were being updated to reflect latest market intelligence, final S106 position and infrastructure programme and that in accordance with the governance arrangements, the Updated 2015 Delivery Plan and financial appraisal would be presented to the Partnering Board in Jan 2015 for consideration and then onwards to Executive.
(3) That the proposed marketing opportunity be noted and the proposal from the Directors of the Graven Hill Holding/Development Company supported by the Partnering Board to take part in this media production recognising the implications of such an activity be endorsed.
Minutes:
The Commercial Director (Bicester) submitted an exempt report which provided an update on the work being undertaken by the Graven Hill Development Company ahead of finalising the Delivery Plan and sought authorisation to take part in a media production to promote self-build on the site.
Resolved
(1) That the work being carried out by the Graven Hill Development Company be noted.
(2) That it be noted the Delivery Plan and Financial model were being updated to reflect latest market intelligence, final S106 position and infrastructure programme and that in accordance with the governance arrangements, the Updated 2015 Delivery Plan and financial appraisal would be presented to the Partnering Board in Jan 2015 for consideration and then onwards to Executive.
(3) That the proposed marketing opportunity be noted and the proposal from the Directors of the Graven Hill Holding/Development Company supported by the Partnering Board to take part in this media production recognising the implications of such an activity be endorsed.
Reasons
As at 19 November 2014 (latest Delivery Team Meeting) the work programme for Graven Hill is on track in terms of programme, budget and risk management.
This is a significant investment for the Council and one that is innovative and delivers many positive benefits to the District. It is therefore imperative that the strong governance that has been put place continues to actively manage the work programme, budgets, risks and mitigations.
Exempt Appendix 2 details an exciting media potential to promote the site and taking into account all risks and mitigations it is recommended that the Company should take part in this programme in order to raise profile and boost the sale of plots.
After the Partnering Board scheduled for January 2015 has taken place an update on the Graven Hill 2015 Business Plan will be presented to the Executive in Q4.
Alternative Options
There is an option not to take part in the media production.