Issue - meetings

Note: a General Exception Notice has been published for this decision in accordance with Procedure Rule 92 of the Council’s Constitution. This is available from the Council’s website.

AGREED RECOMMENDATIONS

Reasons for decision – to secure both the fit out of the women’s building and the other benefits to be delivered through the redevelopment of the Holloway Prison site.

Other options considered – none

Conflicts of interest / dispensations granted – none

RESOLVED:

(i)    That up to £2.9 million (index linked) of Strategic CIL can be allocated to fund the fit-out costs of the Women’s Building on the Holloway Prison site subject to a s106 agreement being entered into, as outlined in paragraphs 2.3 and 2.5 of the report, be agreed.

(ii)   That it be noted that such an allocation of funding will only be required if the council as the Local Planning Authority grants planning permission for the redevelopment of the Holloway Prison site and the permission is built out.

(iii)  That it be noted that the s106 agreement attached to the grant of planning permission will require that Peabody has taken every practical step to raise the funding itself and will set out clear criteria to enable the council to measure whether Peabody has taken every practical step possible. These steps shall include the employment of a professional fundraiser for a requisite period.

(iv)  That it be noted that the phasing of any such payment needs to be agreed in a way that ensures that there is no further loss of income to the council in respect of (for example) any interest that would otherwise be accrued by the council in relation to any funding.  

(v)   That it be noted that Peabody has offered to include a mid-stage financial viability review mechanism within the s106 agreement.  If this mechanism demonstrates that the scheme is in surplus, any surplus will be used to improve the delivery of affordable housing in Phase Three of the development and/or fund the fit out of the Women’s Building.

Reasons for decision – to secure both the fit out of the women’s building and the other benefits to be delivered through the redevelopment of the Holloway Prison site.

Other options considered – none

Conflicts of interest / dispensations granted – none