Report of the Director of Economy

Consideration was given to a report of the Director of Economy setting out progress made on the Rochdale Riverside 2 scheme and seeking approval to continue with the design of the residential & hotel element of the Scheme up to Royal Institute of British Architects (RIBA) Stage 4 (Technical Design) and for the offices element of the Scheme, up to RIBA Stage 3 (Spatial Co-ordination), to enable a planning application for the whole Scheme to be submitted.

Alternatives considered

To delay undertaking the RIBA Stage work.

Resolved

1.    The design of the Scheme to RIBA Stages 3 as detailed within the submitted report be approved.

2.    The submission of the detailed planning application for the Scheme be approved.

3.    The submission of a bid to MHCLG for funding from the Future High Street Fund (FHSF) for up to £25m be approved.

4.    That a further report be submitted to Cabinet when the funding and delivery structure for the Scheme is confirmed.

5.    That a report be brought to a future meeting of Cabinet detailing the forecast financial position of the Rochdale Riverside retail and leisure development (Phase 1), plus an update on the financial implications for the Rochdale Riverside Phase 2 scheme at that time.

6.    The Assistant Director (Legal, Governance & Workforce) be authorised to enter into any legal agreements necessary to give effect to this decision in consultation with the cabinet member for Regeneration and the Director of Economy and the Director of Resources.

Reason for the resolution

To secure planning permission for the Scheme to ensure the funding opportunities presented by a bid to the FHSF are not missed, and to ensure the office element of the Scheme can be promoted and marketed to prospective investors/occupiers.