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(1) 
That it be noted the development was being promoted by Barnfield
Blackburn Ltd., a Council joint-venture company with Barnfield
Construction Ltd.
 
(2) 
That it be noted the Darwen Town Deal programme was supporting the
development with a grant towards abnormal costs.
 
(3) 
That the plan of the development, attached to the report at Annex
A, be noted.
 
(4) 
That it be noted the Council was in advanced negotiations with
Advanced Manufacturing Research Centre (AMRC) to take a long lease
on Unit A with the unit to be managed by the Council’s
property team as part of the Council’s investment estate.
 
(5) 
That the acquisition of Unit A for a purchase price of £1.75m
be approved in accordance with the terms set out in the report.
 
(6) 
That the acquisition purchase price excluded tenant fit out costs
which would be included as part of the lease negotiation with
AMRC.
 
(7) 
That the acquisition of Unit A be approved with an initial payment
for the land of £150,000 plus VAT followed by a total payment
of £1,600,000 plus VAT payable in five equal instalments
against agreed construction milestones.
 
(8) 
That the funding of the acquisition in 2025/26 be approved using
£1,400,000 from the Development Investment Fund plus a
virement of £350,000 to be reallocated from the anticipated
underspend on the demolition of Shadsworth/Daisyfield Leisure
Centres.
 
(9) 
That delegated authority be granted to the Growth Programme
Director and the Deputy Director of Legal and Governance to
finalise terms and complete the necessary legal formalities for the
Land Purchase and Development Agreements.
 
(10)       
That delegated authority be granted to the Growth Programme
Director and the Strategic Director Finance and Resources to
complete the necessary legal formalities to request the repayment
of Council shareholder funds from Barnfield Blackburn Ltd.,
following completion of developments.
 
(11)       
That the application of an Option to Tax on the unit be approved
once it had been purchased, to ensure that future rental income
streams did not impact the Council’s VAT Partial Exemption
position.