Issue - meetings
Rochester Riverside - Development Agreement
Meeting: 07/03/2017 - Cabinet (Item 4)
4 Rochester Riverside Regeneration 
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Minutes:
Background:
This report provided details of the development agreement between the Council, the Homes and Communities Agency (HCA) and Countryside Properties PLC with particular reference to a reduction in the land value for a specific S106 requirement to secure funding for the future repair and replacement of the river wall and confirmation of the capped values for the bid qualifications in Countryside’s offer.
The report stated that these matters had been considered by the Rochester Riverside Board on 10 January 2017. It was reported that Countryside were likely to complete their planning submission in April 2017 and that consideration of the planning application and the accompanying S106 agreement would be a matter for the Planning Committee.
The report also provided details of the series of qualifications that could potentially have raised or lowered the land value. Details of the remaining qualifications and the effect on land value were set out in the Exempt Appendix.
The report also provided details of proposals for the introduction of a rent charge to support future maintenance and the partial adoption of the roads on the site to enable a Controlled Parking Zone (CPZ) to be implemented in the future.
An Exempt Appendix provided details relating to land values and the rent charge proposed for residential and non-residential units on the site.
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Decision number: |
Decision: |
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16/2017 |
The Cabinet agreed to a reduction in the Rochester Riverside land receipt to incorporate a specific S106 request to secure funding for the river wall, and also agreed to a capped maximum amount of land reductions to cover the qualifications contained within Countryside’s original offer, which will remain within the Development Agreement, as detailed in sections 3 and 4 of the exempt appendix. |
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17/2017 |
The Cabinet agreed to delegate authority to the Director of Regeneration, Culture, Environment and Transformation, in consultation with the Leader and Portfolio Holder for Inward Investment, Strategic Regeneration and Partnerships, to complete the Development Agreement on the basis of the revised land value, incorporating the river wall S106 amount and the capped maximum amount to cover the qualifications required to remain in the Agreement, as detailed in Sections 3 and 4 of the exempt appendix. |
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18/2017 |
The Cabinet agreed to delegate authority to the Director of Regeneration, Culture, Environment and Transformation, in consultation with the Leader and Portfolio Holder for Inward Investment, Strategic Regeneration and Partnerships, to approve amendments to future phased land payments once the exact costs of the qualifications are realised within a certain phase, provided they do not exceed the agreed land reduction, as detailed in section 4 of the exempt appendix. |
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19/2017 |
The Cabinet agreed, in principle, to a rent charge to the residential and non-residential units within the development and agreed to delegate authority to the Director of Regeneration, Culture, Environment and Transformation, in consultation with the Leader and Portfolio Holder for Inward Investment, Strategic Regeneration and Partnerships, to agree the final value of the rent charge, as detailed in section 5 of the exempt appendix. |
Reasons: ... view the full minutes text for item 4