Agenda item

41/20              

Consideration was given to a report that made recommendations with respect to the Ivybridge Regeneration Project at Leonards Road, Ivybridge.

In discussion, the following points were raised:-

(a)     It was highlighted that the proposals had been supported by local residents and local stakeholders.  In particular, the support of Ivybridge Town Council and the local Chamber of Commerce was noted;

(b)     An amendment to the recommendation was PROPOSED and SECONDED as follows:

‘That the Council:

1.       Delay the so called Ivybridge Regeneration project through to planning, tender, construction and lease (subject but not limited to the regulatory statutory planning process and the total scheme cost being within the £9 million financial envelope);

2.       Note the financial case as set out within this report and the borrowing of £9 million from the Public Works Loans Board (PWLB) to finance the regeneration project;

3.       Ringfence £10 million for the regeneration of Ivybridge to be financed by the PWLB, subject to a Business Case being produced that demonstrates that the regeneration initiative can be self-financing; and

4.       Invite Ivybridge Town Council and the Ivybridge community to come forward with their own plans and ideas for the regeneration. These could include purchasing or working in partnership with Glanville Mill. Forming a food co-operative selling local produce. Subsidising rents for local artisans, producers and entrepreneurs. And possibly even a budget supermarket.

In support of the amendment, the following views were expressed:

o    The current scheme was felt to be a missed opportunity and the construction of a supermarket was both unimaginative and did not constitute town centre regeneration or increase the public realm;

o    If approved, the amendment would encourage both local produce and stimulate the local economy;

o    Concerns were raised that the Council would be taking on the £9 million risk and this had not been highlighted in the recent public consultation exercise; and

o    The comments in the published agenda report regarding the proposed Foodstore tenant using ‘locally sourced produce’ were felt to be untrue.

In contrast, other Members were of the view that:

o    It had been proven that such schemes did result in an increased footfall in town centres;

o    Any further project delays would be to the detriment of Ivybridge;

o    The project had been fully costed;

o    The amendment was inconsistent with the results of the recent public consultation exercise; and

o    Receipt of such a last minute amendment was not helpful

When put to the vote, the amendment was declared LOST.

It was then:

RESOLVED

1.       That approval be given to the Ivybridge Regeneration project through to planning, tender, construction and lease (subject, but not limited to, the regulatory statutory planning process and the total scheme cost being within the £9 million financial envelope);

2.       That the financial case (as set out within the presented agenda report) and the borrowing of £9 million from the Public Works Loan Board (PWLB) to finance the regeneration project be approved;

3.       That the spend of up to £450,000 be approved and funded from the Business Rates Retention Earmarked Reserve, recognising these will be abortive costs if the project does not proceed at any given stage pre-construction;

4.       That the Procurement Strategy and any associated contract awards be approved;

5.       That the variation of parking tariffs be approved in principle, subject to final tariff design by the Head of Assets, in consultation with the lead Executive Member for Enterprise and the Leader of Council; and

6.       That authority be delegated to the Head of Assets, in consultation with the Director of Place and Enterprise and Monitoring Officer, to enter the Agreement for Lease (and the subsequent lease of 25 years + 15 years) with the proposed Foodstore tenant.