(Portfolio Holder for Asset Management & Economic Development) To consider the attached report (C-011-2014/15).
Decision:
(1) That, as attached to Appendix 1 of the restricted report and subject to clarification of the food store operator, the proposed Heads of Terms be agreed following negotiations between the Council’s Agent, Savills, and Frontier Estates (Epping) Limited (the Developer) together with agents acting for Essex County Council and Epping Town Council;
(2) That external solicitors be instructed to prepare and negotiate a Development Agreement to document the agreed Heads of Terms for the redevelopment of the St John’s Road site in Epping, subject to approval by the Council of the food store operator;
(3) That the Portfolio Holder for Asset Management and Economic Development be authorised to agree minor amendments to the documentation, in consultation with the Director of Governance; and
(4) That a supplementary District Development Fund estimate in the sum of £35,000 be recommended to the Council for approval to instruct the external solicitors to prepare and negotiate a development agreement for the site.
Minutes:
The Portfolio Holder for Asset Management & Economic Development presented a report on the proposed Heads of Terms and Development Agreement for the redevelopment of St John’s Road in Epping.
The Portfolio Holder outlined the proposed Heads of Terms for a development agreement for the development of the St John’s Road site, which comprised the Council’s Housing Depot, Epping Town Hall and the former Epping Junior school. This site was jointly owned by Essex County Council (2.59 acres), the District Council (0.59 acres) and Epping Town Council (0.54 acres). The current proposal was for a food store, car park, small cinema, restaurants, ancillary commercial uses and residential development.
The Portfolio Holder was also proposing that external solicitors be instructed to prepare and negotiate a development agreement and this had been estimated to cost £35,000. It was proposed to cover the cost of this work with supplementary finance from the District Development Fund. The redevelopment of the site would produce a number of economic and community benefits for the area, which would be in the interests of all three Councils, and would be an excellent example of working in partnership for the common good. The District Council would receive the benefit of additional business rates, and there would a significant benefit for local residents from the jobs created by the development.
A number of issues were highlighted by the members present, including the current traffic issues in St John’s Road and the status of Epping Hall. The Director of Governance reassured the Cabinet that the final proposals for the site would be subject to Cabinet approval and that there would an opportunity for local Councillors to discuss them. However, it was also emphasised that the final proposals would need to be approved by all three Councils involved. It was emphasised that the current proposals would not restrict use of the car park to customers of the food store, and the inclusion of a small cinema in the plans was a direct result of the comments received during the consultation.
Decisions:
(1) That, as attached to Appendix 1 of the restricted report and subject to clarification of the food store operator, the proposed Heads of Terms be agreed following negotiations between the Council’s Agent, Savills, and Frontier Estates (Epping) Limited (the Developer) together with agents acting for Essex County Council and Epping Town Council;
(2) That external solicitors be instructed to prepare and negotiate a Development Agreement to document the agreed Heads of Terms for the redevelopment of the St John’s Road site in Epping, subject to approval by the Council of the food store operator;
(3) That the Portfolio Holder for Asset Management and Economic Development be authorised to agree minor amendments to the documentation, in consultation with the Director of Governance; and
(4) That a supplementary District Development Fund estimate in the sum of £35,000 be recommended to the Council for approval to instruct the external solicitors to prepare and negotiate a development agreement for the site.
Reasons for Decision:
To achieve the strategic aim of redeveloping this site in accordance with the adopted Planning Design Brief in September 2012, and to secure significant financial benefits to the Council as well as wider benefits to local residents.
Other Options Considered and Rejected:
To allow each owner of the site to consider independent development options for their part of the site. However, this was unlikely to secure the level of benefits to the local community as the proposed joint development.