Issue - meetings

Report of the Leader and Cabinet Member for Finance and Growth is attached

Councillor Eamonn O’Brien, Leader and Cabinet Member for Finance and Growth, presented the report which set out the full financial details.

Decision:

Cabinet:

1.    Approved the acquisition of properties 4 Princess Parade and 47 Market Street in accordance with the terms set out in Part B of this report; and

2.    Delegated the finalised terms of the agreements to the Chief Executive in consultation with Cabinet Member for Finance, S151 Officer and Monitoring Officer.

Reasons for the decision:

As set out for the Part A report.

Other options considered and rejected:

As set out for the Part A report.

Report of the Leader and Cabinet Member for Finance and Growth is attached.

Councillor Eamonn O’Brien, Leader and Cabinet Member for Finance and Growth, presented the report which sought permission for the purchase of two properties as part of the Bury Market and Flexihall project. It was noted that the full financial detail was set out in the Part B report.

Decision:

Cabinet:

1.    Approved the acquisition of properties 4 Princess Parade and 47 Market Street in accordance with the terms set out in Part B of this report; and

2.    Delegated the finalised terms of the agreements to the Chief Executive in consultation with Cabinet Member for Finance, S151 Officer and Monitoring Officer.

Reasons for the decision:

To facilitate delivery of the Bury Market and Flexihall project in accordance with the Levelling Up bid submission and subsequent notification of a successful bid.

Other options considered and rejected:

An alternative option is to not purchase the property, this option was rejected as the land holding is required in order to continue with the Flexihall development.

The Council can seek to use compulsory purchase powers as an acquiring authority the Council is able to use compulsory purchase powers and acquire land without the consent of the landowner. The process however is not swift and could take in the region of 18-24 months to be concluded. The requirements of the levelling up bid stated that all funds would need to be defrayed by quarter 1 2025. This option has been rejected as the Council would not therefore have sufficient time to acquire the properties within the project delivery timeline.