Issue - meetings

This report sets out the background to the Carters Quay scheme phases 4 5 and 6 and the Council’s involvement as well as the challenges currently faced.

The report notes that officers have and continue to review the options for taking forward the development and that recommendation/s will be presented to Cabinet and Council when a clear picture emerges of which option represents the best set of probable outcomes for the council and residents of BCP.

The Leader of the Council and Portfolio Holder for Dynamic Places presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'B' to these minutes in the Minute Book. The Board was advised that the report set out the background to the Carters Quay scheme phases 4, 5 and 6 and the Council’s involvement as well as the challenges currently faced.

It was noted that officers had and continued to review the options for taking forward the development and that recommendation/s will be presented to Cabinet and Council when a clear picture emerges of which option represents the best set of probable outcomes for the Council and residents of BCP. The Board was advised that this was a very live situation and documents had been issued since the start of the meeting to confirm that the company, Inland Homes was in administration. The Leader advised the Board that the company was financially sound at the time of entering into the agreement.

The site was purchased for build to rent and was at the point where planning permission was due to expire. The land was bought by the Council and was considered to be important for regeneration.

There were questions from councillors around how much due diligence was done around inland homes.  At the time the site was purchased interest rates were low, funding was secured with a mortgage on the site which gave security.

In response to a question it was confirmed that FuturePlaces had been involved at one stage in design and finish. The Board was advised that some preliminary work had already been completed onsite and that this work should be fine for sometime.

The Board was informed that it was a developing situation and there would probably be a need to come back to Cabinet and Council in a few months regarding the situation.

Further questions were raised and responded to regarding the financial aspects of the situation and the administration procedures. 

A Board member asked about the procedures for the contract and whether there should have been something in place which would allow the Council to take action in this situation. It was noted that no one else could take possession of the land without the Council’s permission.

The Chair thanked the Leader for the paper and being informative as it made the position clearer.