Agenda item

There is no report attached. There will be a presentation at the meeting. Copies of the presentation will be available there.

The presentation will update the Panel about general progress but concentrate on the proposed financing arrangements for Keynsham Town Centre Regeneration and Workplaces Project as well as the results of the consultation exercise which are attached.

The Panel received a presentation from Tom McBain Divisional Director - Property and Derek Quilter Divisional Director - Major Projects. The presentation covered the following:

Workplaces Programme Update - Progress to Date

Keynsham Regeneration Project - Public Consultation Feedback

Project Response

Keynsham Regeneration Project - Review of Funding Options

Issues/Next Steps

(A full copy of the presentation is held on the minute book for this Panel)

Panel members raised the following points and asked the following questions:

The Strategic Director and the Finance Divisional Director explained the capital receipt and internal borrowing (option 5 in the presentation) following a question from Councillor Chris Watt.

Councillor Nigel Roberts asked about sustainability and cycling as part of the overall plan. Derek Quilter, Major Projects explained that a new bus station, better cycle routes, cycle parks and storage facilities were being looked at. He further explained that in the long term, some work at the train station in Keynsham was being considered.

Councillor Gerrish stated that it was useful to see information on the rent being paid on buildings being vacated, he asked what these costs would be over sixty years and whether this would mean there would be a saving. The Strategic Director explained that the report to Cabinet would refer to this and that the whole project is designed to achieve a 10% return. He further explained that to stay in existing accommodation would incur a substantial cost.

Councillor Gerrish asked several questions. He asked if the Ashton Way car park could be decked; if any air quality management issues had been considered regarding the road layout and would the clock still be visible from the High Street. Derek Quilter - Major Projects explained that restricted covenants meant that decking at Ashton Way was discounted; traffic modelling is being carried out with a view to keeping the traffic moving which causes less pollution; the clock would be visible from the High Street.

Following a questions from Councillor Gerrish about the reflection of the brass, the Divisional Director explained that it would fade down to a matt appearance but that he would consider glare issues with regard to the material planned for the One Stop Shop.

Following an invitation from the Chair, there was a question and answer session with members of the public and officers:

Q: Will the material used mean the buildings look shabby in the future?

A: The ground floor of the building will be natural stone, the upper parts will be glass or brass. Brass will fade to a certain level and then stay the same without maintenance.

Q: We would like a start and end date as the High Street will continue to deteriorate while this is uncertain.

A: Subject to Cabinet approval (December 2011) and Planning approval (January 2012) the project can start in August 2012.

Q: Will the development plans for the fire station and Riverside hold up the start of the main project?

A: The planning application will be for the main site only and will not be held up by the negotiations on other buildings.

Q: Residents will be looking for better traffic flow, is a gyratory system favoured?

A: We will do some traffic modelling around the gyratory issue, the initial feeling is a two way system would improve the situation.

Q: Would the savings you will make on rent, pay for the redevelopment sooner than sixty years?

A: There is a sixty year model for the project, savings start to be made within 3-4 years.

Q: How many shop units are planned?

A: 20,000 square feet. There is currently 15,000 square feet.

Q: Can you put something in the contract about the height restriction?

A: Height will be part of the planning conditions.

Q: Why has the 60's style been chosen?

A: It is a modern design.

Q: How much guaranteed availability for community use will there be in the civic centre?

A: The civic centre will be open 8am-10pm, it will be available for hire.

Q: Where will the new fire station be?

A: We don't know the exact location yet but it will be somewhere in or close to the centre of Keynsham.

The Chairman thanked all members of the public for their contribution and reminded them that they could have further input at the planning application stage.

The Cabinet Member for Community Resources - Councillor David Bellotti updated the Panel on this issue:

Councillor Bellotti explained that this project was at the consultation stage. He stated that this was a testing time to do any development and explained that all methods of funding were being considered.

He explained that Councillor Symonds Cabinet Member for Transport was seriously looking at a one way system which would give the opportunity in the High Street for wider pavements. He explained that the administration would be taking into account the income that the whole development generates as Keynsham will become much more prosperous and there will be added value.

Panel members raised the following points and asked the following questions:

Councillor Watt asked a question on the sensitivity analysis in terms of predicting things like rent increases for shops. Councillor Bellotti explained that there would be an increase in rents for shops when the project is completed and a 60% occupancy rate would match the current rental income. He explained that no retail (other than the anchor tenant) would sign up 2-3 years in advance so it would not be possible to get 20,000 square feet filled before the project started.

The Strategic Director explained that to go forward, this project must have Cabinet approval and the funding would go to full Council and it will then go through the planning process. He explained that the project is the retail area, one stop shop and offices above but outlining areas (riverside/fire station) will inform this, but the main project will be done first.

Councillor Gerrish stated that he would like to think that, regarding rental increases, consideration will be given to existing tenants who will have been through a period of uncertainty. He also stated that rents should not be set for long periods. Councillor Bellotti agreed that there needed to be a mix of rental agreements.

The Chairman thanked everyone and announced that the Panel would look at the finances of the project in the spring 2012.