Meeting documents

1 THE ISSUE

1.1 The Norton Radstock Regeneration Company (NRR), with its development partner Bellway, is progressing proposals for development and enhancement of its land (former railway and adjoining land in the centre of Radstock). In doing so the Company is seeking to maximise the regeneration impact for the town. In this respect adjacent Council land holdings might present significant regeneration opportunities in conjunction with the NRR land. The report sets out the opportunity and asks for agreement to continue to explore the potential on the basis that any proposals should be fully funded.

2 RECOMMENDATION

2.1 Discussions continue with the Norton Radstock Regeneration Company to explore opportunities in respect of the potential for Council land-holdings in the centre of Radstock to contribute to regeneration of the town and enhanced public service delivery as set out in this report, on the basis that any proposal must be fully funded.

2.2 The Head of Property and Legal Services acts in a client liaison role to define the potential service provision and space content of a `civic building' on land owned by the Norton Radstock Regeneration Company, as the basis for considering the business case for this project.

2.3 That a report is subsequently made to the Executive setting out proposals and the business case.

3 FINANCIAL IMPLICATIONS

3.1 There are no financial implications that arise directly from the recommendations of this report. There is potentially an opportunity for value released by Council land assets to contribute to a new `civic' building to enhance public service delivery in Radstock. However, this would be on the basis that the release of the asset value is dependent upon freeing up Council land through transfer of Council facilities to land owned by NRR. This would be the subject of a separate report setting out any business case and implications for the Council. It is intended that any proposals should be revenue and capital cost neutral

4 THE REPORT

4.1 The Norton Radstock Regeneration Company is at a critical stage with its development partner Bellway, in progressing proposals for a high quality mixed use development of its land in the centre of Radstock. A key element of the emerging proposals is a civic building from which a range of public services and associated activities can be provided in the centre of the town in an integrated manner to improve services for the community, generate increased town centre activity and help underpin the role of the town centre. This would release currently occupied Council land to present opportunities for wider restructuring and improvement of the centre to maximise the long term regeneration impact. NRR and Bellway have agreed to include the Council land in their current masterplanning exercise at no cost to the Council. To provide a basis for proceeding in this way both NRR and Bellway require confirmation that the Council is agreeable to continuing discussions to explore the wider regeneration opportunities that might be afforded through incorporation of Council sites. This is on the basis that any subsequent proposals must be fully funded. The current position in terms of the proposals is set out in Appendix 1.

5 RISK MANAGEMENT

6 RATIONALE

6.1 The is a one-off opportunity to work with NRR to consider utilisation of the Company's land value, in conjunction with Council land holdings, to achieve long term regeneration benefits for Radstock town centre.

7 OTHER OPTIONS CONSIDERED

7.1 The option of leaving NRR to work solely within its ownership boundary has been considered. However, this has been dismissed on the basis that it would fail to properly consider the regeneration requirements and opportunities in Radstock. This approach may also put at risk external investment, including potential investment from the Regional Development Agency which will require demonstration of an active Council role in planning and delivering comprehensive long-term regeneration.

7.2 The option of investigating the potential of Council sites at a later stage has been considered. This has been dismissed because without the possibility of restructuring the centre/relocating existing uses through joint working with NRR, the potential of the Council's land is greatly constrained and the regeneration impact would be substantially curtailed.

8 CONSULTATION

8.1 Relevant Council Services and Officers, together with members and the Norton Radstock Redevelopment Company have been consulted in the drawing up of this report and their input has been reflected where appropriate within the report.

9 REASONS FOR URGENCY

9.1 Not urgent.