Agenda and minutes

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Items
No. Item

7.

Apologies

8.

Declarations of Interest

    Members are required to declare any disclosable pecuniary, personal or personal and prejudicial interests they may have and the nature of those interests relating to items on this agenda and/or indicate if S106 of the Local Government Finance Act 1992 applies to them.   

    Minutes:

    There were no declarations of interests.

9.

Urgent Items of Business

10.

Minutes pdf icon PDF 76 KB

11.

Exclusion of Press and Public

    To consider that the press and public be excluded from the remaining part of the meeting pursuant to Section 100(A)4 of the Local Government Act 1972 on the grounds that discussions may involve the likely disclosure of exempt information as defined in the provisions of Part 1 of Schedule 12A to the Local Government Act 1972 and public interest would not be served in publishing the information.

    Minutes:

    RESOLVED:

     

    That the Press and Public be excluded from the meeting during consideration of the following two items of business, in accordance with the provisions of Section 100A (4) of the Local Government Act 1972, as amended.

     

    Reason for Decision:

     

    Should the press and public remain during debate on these two items there may be a disclosure of information that is deemed to be exempt under Parts 1 and 4 of Schedule 12A of the Local Government Act 1972.

12.

Asset Development and Direct Development Fund Live Projects

Minutes:

Members considered a report from the Director of Economy that outlined proposals to bring forward three Council owned sites for development either directly by Rochdale Borough Council or private business. The total estimated delivery cost of £5.12m would create over 65,000 square feet of industrial space, generate an annual estimated income of £270,000 and provide additional benefits of business rates income, business growth and job creation.

 

The report also provided an overview of the performance of the Council’s investment acquired using the Commercial Investment Fund.

 

Alternatives Considered

 

The Sub-Committee could decide not to develop these sites in which case it would not achieve the financial and regeneration benefits as described in the report.

 

RESOLVED

 

1)              That the Sub-Committee approve enabling works, estimated project cost £800,000 on land at Oldham Road/Durham Street, Rochdale.

 

2)              That the Sub-Committee approve the development of industrial units, estimated project cost £2,700,000 on Land at Oldham Road/Durham Street, Rochdale.

 

3)              That the Sub-Committee approve the disposal of 1.7 acres of land, estimated cost £10,000 on Land at West Starkey Street, Heywood.

 

4)              That the Sub-Committee approve the development of industrial units, estimated project cost £1,600,000 on land at West Starkey Street, Heywood.

 

5)              That the Sub-Committee approve the lease of 0.4 acres of land, estimated cost £10,000on land at Ainsworth Street and Oldham Road, Rochdale.

 

6)              That the Assistant Director of Resources, (Legal, Governance & Workforce) be authorised to advise appropriate Council Services, to prepare appropriate legal documents and execute such documents on behalf of the Council to ensure the delivery of such projects.

 

7)              That the information provided on the performance of the Council’s investments as detailed in section 4 of the report and the property investment dashboard be noted.

13.

Land at Oldham Road, Rochdale

Minutes:

 

The Property Growth Fund Sub-Committee considered a report of the Director of Economy setting out the details of an opportunity to acquire 4.22 hectares of land and buildings in central Rochdale. The buildings, comprising of occupied retail units and represented an opportunity to secure a revenue return that could contribute to the Council’s property investment strategy, including contributions to budget savings.

 

Alternatives considered

 

The Sub-Committee could decide not to acquire the property in which case it would not be able to achieve the financial benefits as described within the report. To do nothing would require no expenditure, nor expose the Council to the risks of property investments.

 

RESOLVED:

 

That in relation to the purchase of Central Retail Park, Oldham Road, Rochdale, the Property Growth Fund Sub-Committee:

 

1)    Approves, in principle, the purchase of the property, utilising funds from Commercial Investment Fund and Direct Development Fund, subject to further negotiations with the vendor on purchase price.

 

2)    Delegate authority to the Leader of the Council, in consultation with the Directors of Resources and Economy, to approve the final terms and conditions of the acquisition.

 

3)    Approves that the Council opts to tax the land and buildings comprising Plot 1 of the site, and delegate authority to the Chief Finance Officer to decide whether to opt to tax Plot 2 of the site for VAT purposes.