Decision details

This report will provide an update on the Keynsham Town Centre Regeneration Scheme and the Workplaces Programme. The previous report approved by Cabinet in December 2009, required a return to Cabinet with an update prior to the appointment of a Construction Delivery Partner. The stage has now been reached for this appointment to be implemented together with the submission of a full planning application for the scheme. Approval is therefore being sought from Cabinet.

(1) To AGREE that appendix 4 (Leasing Strategy) of the report is EXEMPT from publication by virtue of paragraph 3, Part 1 or Schedule 12A of the Local Government Act 1972;

(2) To PROCEED in line with the planned accommodation model detailed within the report including the planned partnership arrangements;

(3) To PROCEED with submission of a full planning application for the Keynsham Town Centre Regeneration in January 2012 after further consultation;

(4) To PROCEED with the appointment of a delivery partner for the Keynsham Town Centre Regeneration in line with arrangements in contract standing orders;

(5) To PROCEED with financing Option 5 – Internal Borrowing backed by cash flow and capital receipts as the preferred option to provide the operational Capital Funding Requirement for this project, SUBJECT to the agreement by Full Council as part of the Revenue Budget and Capital Programme, and the Prudential Borrowing Limits in February 2012;

(6) To ADOPT the changes to the Keynsham Town Centre Regeneration scheme to reflect the public consultation as detailed in the report;

(7) To GIVE a 6 month notice to the current retail tenants in order to gain vacant possession in line with the current programme, this notice period to enable trading to continue over Christmas 2011 and into early summer 2012;

(8) To NOTE that options that are being pursued in respect of the future redevelopment of Riverside;

(9) To NOTE the progress of negotiations to secure tenants for the retail units including draft heads of terms with the anchor tenant;

(10) To NOTE the strong support for the Keynsham Regeneration scheme from the consultation undertaken.

Having regard to the options and financial analysis work, Option 5 is the most affordable and deliverable option that will meet the objectives of the project

The other options available are complex and are detailed in the published report