Council and democracy

Getting closer to finalising regeneration deal

Next week's cabinet meeting (17 November) will seek approval to negotiate final terms with John Laing plc in order to confirm it as the council's long-term partner in spearheading regeneration in the borough. If the arrangements unfold as expected it is hoped that a deal can be signed by the end of the month.

Cabinet member for regeneration and economic development, Councillor Tim Pollard said: "The cabinet decision will mark another crucial stage of a journey we embarked on in May 2006. It means the end is in sight and cabinet approval to negotiate final terms will take us closer towards conclusion.

As landowner the council will have a major say in the shape and timing of the extensive regeneration that is intended to result from the urban regeneration vehicle (URV). By adopting a more commercial approach to the use of public assets and exercising greater local control of funding, we can ensure significant public benefits will result."

The council has said it proposes to assign Davis House, the office block that adjoins its Fell Road offices, into the URV. The council placed a deposit on Davis House in October to secure it, but the URV will complete and fully fund the deal. Other sites are expected to be identified and included in future, thereby building up the portfolio of potential development locations. This will give the council the opportunity to ensure sensitive development that provides a sense of community together with a host of new and improved public facilities.

Previously when the council has sold sites to the highest bidder, the council has seen developers profiting when the land is developed. The partnership with John Laing will make certain that the council not only gets a slice of the profit but is also able to co-ordinate and mastermind the regeneration. The invaluable spin-off from the initiative is that it also provides an imaginative solution to the council's accommodation problems and desire to improve the quality of a wide range of public service provision.

In anticipation of the deal going ahead, bore hole ground investigations are already taking place in the vicinity of Taberner House and Fell Road. Construction work on the first of the four sites could begin as early as 2010 with work continuing for seven or eight years.