Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Cabinet gave consideration to a report of the Principal Surveyor, Strategic Property Partnerships which updated the Council on the progress made with regard to Phase 1 of the Broadway Green development and sought approval to vary the Joint Venture legal agreements in accordance with the grant funding conditions from Homes England for Phase 2 of the Broadway Green Development.
Cabinet noted that The Broadway Green development (previously known as the Foxdenton scheme) was being promoted by a joint venture partnership between Oldham Council, Grasscroft Property and Seddon Construction. The creation of the joint venture partnership and the terms of the partnership were approved by Cabinet on 16th December 2013.
The site had detailed planning consent for a new link road and for the first phase of 97 family homes. It also had outline consent for up to 700,000 sq.ft of employment space, a further 373 new homes and a new linear park
Members were informed that the Broadway Green development had started on site in June 2017. The extent of the works completed so far included the first phase of the new link road, the creation of a development plateau for the first residential phase and highway improvements to the Eaves Lane/Broadway/Foxdenton Lane junction.
The phase 1 works had been substantially completed, meaning the first third of the link road from Foxdenton Lane was constructed, Redrow Homes were now on site building the first residential phase of the development and the highway works at the Eaves Lane junction had been completed.
In January 2018 the Council had been notified that it had been successful in its bid for £4.9m of Marginal Viability Funding, for Broadway Green Phase 2, on the basis that it would deliver approximately 373 new homes.
Option 1 - to approve the variation of the joint venture legal agreements. This would enable the works to continue on site.
Option 2 - not to approve the variation of the joint venture legal agreements. This would mean there would be no grant funding from Homes England.
RESOLVED that the Cabinet would consider the commercially
sensitive information contained at Item 16 of the agenda.
Publication date: 27/11/2018
Date of decision: 19/11/2018
Decided at meeting: 19/11/2018 - Cabinet
Effective from: 05/12/2018