Issue - meetings

Report of Executive Director Place and Regeneration

Purpose of report

To request an allocation of £250k from the Strategic Development Fund reserve (£400k) to progress economic development and regeneration activity.

Recommendations

The Executive resolves:

1.1         To agree to an allocation from the Strategic Development Fund of £250k to commission:

                 i.             An Economic Plan for Cherwell district

               ii.             A masterplan for Bicester town centre. 

Monies would be spent according to CDC financial and procurement regulations led by the Regeneration & Growth (R&G) service.

1.2         To agree to renew Ambassador status with Experience Oxfordshire (£15k) for 26/27, utilising existing service budgets and to agree to consider allocating funds in future years as part of the budget-setting process.

Resolved

(1)            That an allocation from the Strategic Development Fund of £250k to commission an Economic Plan for Cherwell district and a masterplan for Bicester town centre be agreed and it be noted that monies would be spent according to CDC financial and procurement regulations led by the Regeneration & Growth (R&G) service.

(2)            That it be agreed to renew Ambassador status with Experience Oxfordshire (£15k) for 2026/27, utilising existing service budgets and to agree to consider allocating funds in future years as part of the budget-setting process.

The Executive Director Place and Regeneration submitted a report to request an allocation of £250k from the Strategic Development Fund reserve (£400k) to progress economic development and regeneration activity.

Resolved

(1)          That an allocation from the Strategic Development Fund of £250k to commission an Economic Plan for Cherwell district and a masterplan for Bicester town centre be agreed and it be noted that monies would be spent according to CDC financial and procurement regulations led by the Regeneration & Growth (R&G) service.

(2)          That it be agreed to renew Ambassador status with Experience Oxfordshire (£15k) for 2026/27, utilising existing service budgets and to agree to consider allocating funds in future years as part of the budget-setting process.

Reasons

This report seeks to agree to an allocation from the Strategic Development Fund of £250k to commission an Economic Plan for Cherwell district and a masterplan for Bicester town centre. 

Monies would be spent according to CDC financial and procurement regulations led by the Regeneration & Growth (R&G) service.

The report also seeks to agree to renew Ambassador status with Experience Oxfordshire (£15k) for 26/27, utilising existing service budgets and to agree to consider allocating funds in future years as part of the budget-setting process.

The proposed commissions will help to position the council ahead of future LGR, setting out a clear vision and action plan for economic growth as well as a comprehensive framework for one of the district’s primary urban centres. This is particularly important given the scale of development envisaged in the Bicester area over the coming years.

Alternative options

Option 1: Do not proceed with the development of an Economic Plan for Cherwell and a Bicester Masterplan. This alternative would not provide a good foundation for the delivery of the council plans of the coming years or foundation blocks as LGR is enacted.

Option 2: Do not proceed with the development of a Bicester Masterplan. This is likely to lead to a more fragmented approach to development and not address the needs of existing communities.

Option 3: Do not proceed with the development of an Economic Plan for Cherwell. As Option 1, this would not provide a good foundation block ahead of LGR and would not meet the action set out in the Annual Delivery Plan.

Option 4: Do not proceed with renewal of Ambassador status with Experience Oxfordshire. This is likely to have a detrimental effect on efforts to support and grow the visitor economy in Cherwell, as referenced by current work to develop a Visitor Economy and High Streets Strategy.