Issue - meetings

Report of Head of Regeneration and Estates

Summary

To consider the brief and options for the procurement of a new civic building for Bicester, and determine the preferred method of procuring this building.

Recommendations

The Executive is recommended:

(1)               To resolve that the Council pursue the development of the Franklins Yard car park site with a new civic building, to comprise offices and a public library, together with a proposed hotel, on the basis that the Council finances the development in return for a future revenue income, subject to the terms of the pre-letting agreements being approved by this Committee, and completed, prior to the scheme being committed.

(2)               That any costs or expenses incurred in fees and expenses necessary to progress this proposal being met from the existing capital approval for the Bicester town centre redevelopment scheme.

(3)               To earmark £5m of general capital receipts to this project and a further report be submitted seeking the necessary capital approval, when the costs and income achievable are known.

Recommendations approved

The Head of Regeneration and Estates submitted a report which sought consideration of the brief and options for the procurement of a new civic building for Bicester, and determination of the preferred method of procuring this building.

Resolved

(1)               That the Council pursue the development of the Franklins Yard car park site with a new civic building, to comprise offices and a public library, together with a proposed hotel, on the basis that the Council finances the development in return for a future revenue income, subject to the terms of the pre-letting agreements being approved by this Committee, and completed, prior to the scheme being committed.

(2)               That any costs or expenses incurred in fees and expenses necessary to progress this proposal being met from the existing capital approval for the Bicester town centre redevelopment scheme.

(3)               That £5m of general capital receipts be earmarked to this project and a further report be submitted seeking the necessary capital approval, when the costs and income achievable are known.

Reasons

The key issue is whether the Council wishes to invest further capital in Bicester town centre in return of a commercial rate of return.  If it does so it can maintain full control over the project.

If the Council does not wish to invest in this site, it could look to the market to provide the premises required, and secure a capital contribution towards the cost of the proposed new offices.  However, it would be necessary to transfer a significant degree of control over the project to the developer selected.

Options