RESOLVED that Cabinet:-
(a) approves the inclusion of the two Council owned York Road car parks (the Additional Sites) into the Bournemouth Development Company option agreement to support the redevelopment of Cotlands Road for the residual value detailed in the non-public report;
(b) approves the development of one of the Additional Sites by the Bournemouth Development Company through the proposed delivery mechanism to provide the Council with a new public Multi-Storey car park at York Road;
(c) delegates authority to the Chief Executive (and Corporate Property Officer) and the Monitoring Officer, in consultation with the Portfolio Holder for Regeneration and Culture to agree the terms and authorise the Council to enter into;
(i) a deed of variation to the BDC option agreement to add the two York Road car parks as Additional Sites;
(ii) a development agreement for one of the Additional Sites;
(iii) and to decide whether to implement the contract clarifications and/or to issue a VEAT notice and, if so, on what terms.
RECOMMENDED that Council amend the Capital Programme to include a £10.6 million provision for the construction of a Multi Storey Car Park on one of the Additional Sites to be funded by prudential borrowing.
Voting: Nem. Con. (1 abstention)
Portfolio Holder: Regeneration and Culture
Reason
On 20 February 2019, Bournemouth Borough Council’s Cabinet approved the SDP for these sites and the recommendations outlined clearly align to the purpose of the SDP.
The inclusion of the Additional Sites in the Option Agreement means that the Council can deliver a new public car park with sufficient capacity required to enable BDC to undertake a comprehensive development at the Cotlands Road site and meet the objectives of the Lansdowns Delivery plan.
The inclusion of the Additional Sites in the Option Agreement enables BDC to require the Council to grant BDC a lease of the Additional Sites (subject to certain conditions) and so to retain control over the development of the Additional Sites and the Cotlands Road Site to facilitate the development as outlined in the approved SDP.
The three development sites which total circa 1ha are currently used as a surface level car parks which is not an efficient use of land. The development proposal will consolidate and facilitate maintenance by the Council of the same quantum of public car parking provision through the Council-funded construction of a decked structure and release valuable land for development by BDC.