Agenda item

To consider the following Regeneration related reports scheduled for Cabinet consideration on 12 February 2020:

·       Bournemouth Town Centre Vision (TCV) Winter Gardens Site

·       York Road

The O&S Board is asked to scrutinise the reports and make recommendations to Cabinet as appropriate.

Cabinet member invited to attend for this item: Councillor Mark Howell, Portfolio Holder for Regeneration and Culture.

The Cabinet report will be published on Tuesday 4 February 2020 and available to view at the following link: https://democracy.bcpcouncil.gov.uk/ieListDocuments.aspx?CId=285&MId=3726&Ver=4

In relation to these items of business, it is expected that the associated reports may contained exempt information, if necessary, the Committee is asked to consider the following resolution: -

‘That under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in Paragraph 3 in Part I of Schedule 12A of the Act and that the public interest in withholding the information outweighs such interest in disclosing the information.’

Bournemouth Town Centre Vision (TCV) Winter Gardens Site: The Chairman invited the Portfolio Holder for Regeneration and Culture to introduce the Cabinet report, a copy of which had been circulated and appears as Appendix L to the Cabinet minutes of 12 February 2020 in the Minute Book.  During the course of discussion, the following points were raised:

·       There was general support noted for the recommendations in the report but there were several issues raised regarding a number of the figures within the report particularly in relation to the loan from Morgan Sindall.

It was noted that the loan rate was originally agreed when the OJEU process to select a partner was undertaken several years ago. The loan note rate was a bid back item and done in a competitive environment. It was noted that the initial sums needed to progress a project, “Advanced Sums”, were also financed by way of a loan from Morgan Sindall. The repayment of this loan was dependent on the type of financing structure employed to undertake the construction phase.  

·       It was suggested that with the increase in the construction budget there was scope to renegotiate interest payments and that the issue of the interest rate for the advanced payment needed to be addressed further. The Portfolio undertook to look into the issue and respond.

·       In relation to section 15 of the report the Portfolio Holder responded to questioning on the finance arrangements that these were the options required in order to ensure that the funding needs of the scheme were met.

·       It was noted that the opportunity for the Council to purchase a car park was important for the town centre and would be a strategic investment, giving control over parking charges for the site.

·       A Councillor questioned whether the land value was prior to or post planning permission. The Corporate Director confirmed that the land value was determined at point of transfer with the benefit of planning permission. He also suggested that if any Councillor wished to find out more about the Bournemouth Development Company, he would be happy to provide that information. It was noted that the full scheme would be considered by Full Council.

York Road: The Chairman invited the Portfolio Holder for Regeneration and Culture to introduce the Cabinet report, a copy of which had been circulated and appears as Appendix M to the Cabinet minutes of 12 February 2020 in the Minute Book.  During the course of discussion, the following points were raised:

It was noted that the development on Cotlands Road was mixed use, employment and residential. The report proposed that the two car parks at York Road would be incorporated into the BDC options agreement to facilitate comprehensive development in this part of town

·       A Councillor questioned why two car parks were being included within the development. It was noted that the space was needed to replace the existing Cotlands Road car parking, which wa a planning requirement. The two car parks were next to each other and therefore presented opportunities to enhance the development potential on the Cotlands Road Site.

·       A Board member asked about the option of car park ownership and why they were being transferred to BDC. There was a question as to whether the Council had the expertise or capacity to deliver this in-house. The Corporate Director in consultation with the portfolio holder  having considered the various options,  felt that BDC was better placed to resource, fund  and implement the pre-construction activities necessary to ensure the delivery of the new multi storey car park on York Road in line with the Cotlands development timeline.

·       It was noted that the Council and Morgan Sindall would work together to oversee the development through the BDC platform.

·       A Councillor questioned whether there was anything within the options agreement with BDC that allowed car parks already in the agreement could be taken out. It was noted that there was the ability to review the schemes which were originally included ensure that they were being delivered in accordance with the contractual arrangements and that if they were not then due consideration could be given as to whether sited should be removed.

The meeting was adjourned at 5.00pm and resumed at 5.30pm.