Decision details

RECOMMENED to Council approval of the proposed Site Development Plan for

Market Street, including land drawdown where conditions have been met as set

out in confidential Annex B and to make available the Council’s equal share of

funding needed to undertake this development up to a peak requirement of

£15.4m;

RESOLVED that the Borough Solicitor be authorised to appropriate the land at

Market Street edged red on the plan attached as Annex 1 for planning

purposes under Section 122(1) of the Local Government Act 1972, when a

planning consent is in place.

The Market Street Site Development Plan is an outline proposal for development of

the Council-owned Market Street Site (land adjacent to The Point leisure facility).

This will be refined during the coming months and will be subject to several

conditions being fulfilled as laid out in the Site Development Plan, including securing

planning permission and fulfilling best consideration requirements for the land value.

The Executive could decide not to endorse the recommendations made in this report.

This would mean that the Council may need to consider an alternative approach to

development of the Market Street Site. The Business Case that informed the

Executive’s decision to progress a Joint Venture partnership in February 2019

indicated that alternative approaches would be less likely to deliver the Council’s

agreed objectives.

Councillor Brunel-Walker and Councillor Heydon expressed an affected interest as Board Members of the Bracknell Forest Cambium Partnership and left the meeting for the duration of the item.

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