Decision details

This report will seek Cabinet approval to appoint partners to maximise the benefits of government funding for Medway's regeneration programme.

52/2007 The Cabinet agreed to endorse the current line of seeking private sector investment as it has the benefits of giving the Council more control of the regeneration programme than it would have by responding to a piecemeal approach from the market.
53/2007 The Cabinet agreed that officers enter into an exclusive negotiation for a period of 6 - 9 months with the preferred developer, as indicated in the exempt appendix to the report, with a view to agreeing a proposal for a long term partnership for the purpose of delivering the agreed regeneration programme.
54/2007 The Cabinet agreed that the partnership should seek to provide a mechanism for the Council to benefit from the development process rather than just the sale of the sites under its control.
55/2007 The Cabinet agreed that the partnership should seek to secure the retention of surplus funds (currently due to be returned to the Treasury) for 'recycling' in Medway regeneration projects.
56/2007 The Cabinet agreed that the partnership should provide a mechanism to create infrastructure for the regeneration programme.
57/2007 The Cabinet agreed that Medway Council enlists the support of English Partnerships (EP) in the negotiation process to tap into their experience on such matters and to establish the potential for infrastructure funding for the future from EP. EP is represented on the Medway Renaissance Partnership Board.
58/2007 The Cabinet endorsed the views of the Business Support Overview and Scrutiny Committee, as set out in paragraph 4.2 (g, h, and i) of the report.

There is a need to establish a model for the future delivery of Medway's regeneration programme that is less dependent on government funding and ensures that the Council's objectives are met.The model proposed provides the most effective and beneficial way forward.