Purpose

The Cabinet will be asked to approve the ‘Barking Town Centre Investment Partnership Delivery Strategy’ to build on regeneration momentum and to enhance Barking Town Centre as a thriving economic and cultural hub. This will be followed by market engagement and a competitive partner selection process launched this financial year, with the aim of progressing revised planning and then commence development of the sites.

Decision

Cabinet resolved to:

(i)  Approve the ‘Barking Investment Partnership Delivery Strategy’ as set out in section 2 and Option F in the report;

(ii)  Approve further market engagement followed by a competitive partner selection process managed by Be First, on a transparent and fair basis compliant with legislation, subject to a further Cabinet approval in relation to the appointment of a preferred partner(s) and the finalisation of financial and legal terms of the partnership; and

(iii)  Approve a budget allocation of £280,000 from capital funding to carry out the activities required to identify and select a preferred Investment Partner for the schemes referred to in the report.