Decision Details

On 18 May 2021, Cabinet:-

1. Approved the ACL budget forecast for FY 2021/2022 and BCC’s contribution apportioned as per the terms of the ACL Shareholders Agreement as identified at Exempt Appendix 1 to the report;

    

2. Approved the proposed terms and completion of the Arden Cross Interchange Triangle Collaboration Agreement (ACCA) as set out in Exempt Appendix 1 to the report;

    

3. Approved the proposed terms and completion of the Arden Cross Value Capture Agreement (VCA) as set out in Exempt Appendix 1 to the report;

    

4. Approved the proposed terms and completion of the Arden Cross Works Order Cost Agreement (WOCA) as set out in Exempt Appendix 1 to the report;

    

5. Delegated to the Leader and Cabinet Member for Finance and Resources approval of any additional commercial terms or legal drafting to be put in place for the benefit of the landowners to be added as variations to these Agreements;

    

6. Approved the Assistant Director Property Services (or nominated Delegate) to negotiate the final terms and agree all necessary commercial requirements to give effect to the above decisions;

    

7. Authorised the City Solicitor and delegates to negotiate, execute and complete all relevant documentation to give effect to the above decisions.

    

8. Approved ACL to appoint an Agent to market the ACL opportunity and to initiate a development partner selection process to select one or more entities in aggregate to undertake development and negotiate the terms of a development agreement to be brought back to Cabinet.

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