Agenda item

To consider the report of the Director of City Development providing an update on the development within the Enterprise Zone and also seeks approval for a series of investment packages, which will trigger, if delivered alongside the development of a new Park & Ride facility within the Aire Valley, major development on up to 3 employment sites within the zone.

(Please note that Appendices A, C, D and E to the report are designated as exempt from publication under the provisions of Access to Information Procedure Rule 10.4 (3)).

The Director of City Development submitted a report providing an update on the development within the Aire Valley Enterprise Zone and which also sought approval for a series of investment packages, which will trigger, if delivered alongside the development of a new Park and Ride facility within the Aire Valley, major development on up to 3 employment sites within the zone.

Members supported the proposals detailed within the submitted report.

Following consideration of Appendices A, C, D and E to the submitted report, all designated as exempt from publication 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 the strategy currently being adopted for the Enterprise Zone ofsecuring investment in infrastructure to open up sites and supportingdevelopment of commercial floor space, be approved.

(b)  That the principle for the acceptance of the grant from the Government’s “Building Foundations for Growth” (BFG) fund be approved, and that approval of the terms be delegated to the Director of City Development and the Deputy Chief Executive.

(c)  That it be noted that the BFG grant of £8,570,000 has been injected into the capital programme.

(d)  That the principle of entering into individual funding and investment packages, with the individual developers of Logic Leeds, Connex 45 and Temple Green be approved, and that the detailed recommendations relating to this matter, as set out within the exempt Appendix A to the submitted report, also be approved.

(e)  That the principle of prudentially borrowing the money required to fund the investment packages for Logic Leeds and Connex 45, as set out within exempt Appendix A to the submitted report, be approved.

(f)  That the principle of seeking funding from the Revolving Investment Fund for a contribution towards the cost of the investment package for Connex 45, be approved.

(g)  That the injection of funds into the capital programme in respect to the individual investment packages for Logic Leeds and Connex 45, as set out within exempt Appendix A to the submitted report, be approved.

(h)  That the Director of City Development be authorised, in consultation with the Leader, the Executive Member for Development and the Economy, the Deputy Chief Executive and the City Solicitor, to use his delegated powers to spend the BFG grant sums, as identified within exempt Appendix A to the submitted report and that authority to spend also be granted in respect of the individual investment packages as set out within exempt Appendix A.

(i)  That the Director of City Development be authorised, in consultation with the Leader, the Executive Member for Development and the Economy, the Deputy Chief Executive and the City Solicitor to use his delegated authority to enter into any and all necessary documentation, contracts and agreements required to facilitate the delivery of the individual development packages.

(j)  That the resolutions detailed above be declared exempt from the Call In process.

(The matters referred to within this minute were designated as being exempt from Call In. A decision may be declared as being exempt from Call In if it is considered that any delay would seriously prejudice the Council’s or the public interest. In this case, a delay in completing all the necessary legal documentation as soon as practically possible may have an adverse impact upon the securing of the BFG grant and achieving the programme of works to enable delivery within the specified timeframe)