Decision details

RESOLVED: That Cabinet:

a)    Noted the work to date undertaken to assess the proposal brought to the council from Network Rail and Blocwork.

b)    Approved “in principle” the key terms as set out in Appendix A for entering into an Agreement for Lease and Subsequent Lease new MSCP at Northampton Railway Station.

c)    Delegated authority to the Cabinet Member for Economic Development, Town Centre Regeneration and Growth in consultation with the Chief Finance Officer, the Monitoring Officer and the Executive Director Place and Economy to take the final decision, take all necessary steps and complete the necessary documentation related to the new MSCP at Northampton Railway Station subject to (d)

d)    Agreed that the Council should only proceed with the proposed lease arrangements subject to gaining approval from the South East Midlands Local Enterprise Partnership (SEMLEP) and the Northampton Waterside Enterprise Zone (NWEZ) Board that the business rates from the proposed development can be retained for use on the project.

REASONS RESOLVED:

The council had been approached by Network Rail and Blocwork with a proposal and that proposal needed to be considered. The proposal would help to achieve a number of key objectives including helping to meet an identified undersupply of car parking and providing a new income stream for the council. Meeting an undersupply of car parking at this site would support economic growth and the prosperity of the town and make significant enhancements to the overall environmental laity and pedestrian connectivity of the surrounding area. The recommendations would enable the scheme to proceed, whilst there remain outstanding risks and interdependencies, without these approvals, the project could not continue at this stage.

ALTERNATIVE OPTIONS:

None