Decision details

Agreement of terms and conditions further to the in principle agreement of Executive Board on the 17 October 2012 to provide support to the Leeds Rail Growth Package.

Further to minute 92 of the meeting held 17th October 2012, the Director of City Development and the Director of Resources submitted a joint report providing an update on the progress of the establishment of the Leeds Rail Growth Package, including information on the proposed terms and conditions of financial support and security that would be provided by the Council and, subject to finalisation of legal contracts, the report recommending that financial support is provided.

The report updated the Board on the discussions held with a variety of stakeholders to maintain and secure support. It was reported that the Growing Places Fund, administered by the Leeds Local Enterprise Partnership, had agreed to provide support to the construction of the rail halts within the package, but in order for the scheme to be progressed it was proposed that the Council undertake the associated highway infrastructure works.

The Board recognised the opportunities encompassed in the development of the former Kirkstall Forge site, with the delivery of the two rail stations being key to regeneration and employment in the area.

Following consideration of Appendices B, C and E of the report, designated as exempt under the provisions of Access to Information Procedure Rule 10.4 (3), which were considered in private at the conclusion of the meeting, it was

RESOLVED –

a)  That approval be given to the Council assisting GMV Twelve, on the terms and conditions detailed in exempt Appendix C, subject to the finalisation of legal documentation between the various parties, with approval of the terms of those documents being delegated to the Directors of City Development and of Resources and the City Solicitor.

b)  That approval be given to the Council committing to invest and expend a total of £9.993m for the highway infrastructure works required for the development and professional costs to be met by borrowing and to delegate the formal authority to spend to the Director of City Development.

c)  That approval be given for any changes to the costs of the highway works to be updated in the capital programme, to be fully funded by GMV Twelve over the period of the agreement.

None.