Purpose

To explore opportunities for a Joint
Venture/Special Purchase vehicle partnership/Sale to bring forward
the Woodlands development, including the delivery of the Eastern
Link Road (South)

Content

Woodlands was a major mixed-use
development site on the east side of Aylesbury, including the
Eastern Link Road (South) (ELRS) connecting with the Eastern Link
Road (North) and the A41 Aston Clinton Road. The ELRS was a
fundamental part of a long-term strategy to deliver an orbital
traffic route around Aylesbury. The Council had secured funding
towards the delivery of the ELRS through the Housing Infrastructure
Fund (HIF) and Local Growth Funds (LGF), to support early delivery
of the ELRS.
 
Due to inflation/cost rises,
HIF funding was now insufficient for the Council to deliver the
ELRS as a single or dual carriageway within existing budgets. It
was therefore concluded that the best way to bring forward the
delivery of the ELRS and the Woodlands development was through the
marketing of the site and a possible Joint Venture/Special Purchase
Vehicle Partnership, including the Council, or a site sale
facilitated by the Council. This would enable the provision of
critical highway infrastructure, as well as supporting the planned
growth in Aylesbury.
 
The report paper provided a
high-level overview of such an approach and sought support for
further work to be undertaken ahead of a formal decision on the
full business case for investment being presented and taken by the
Council.
 
RESOLVED
 

That the preferred
delivery option for the Eastern Link Road South be
APPROVED.  

That authority be
delegated to the Service Director for Property and Assets, in
consultation with the Cabinet Member for Accessible Housing and
Resources: 

To market through
a Council procurement process the Woodlands development site to
include the Eastern Link Road South as a single carriageway road
with passive provision for dualling. 

To negotiate
revised Heads of Terms with Landowners and Buckinghamshire
Advantage to enable the marketing of the site to
developers. 

To explore
opportunities for a Joint Venture / Special Purchase Vehicle
Partnership and/or sale to bring forward the Woodlands development
to include the Eastern Link Road South as a single carriageway road
with passive provision for dualling (developer-led
approach). 

That
£800,000 be released from the existing Eastern Link Road
South Budget, funded from Housing Infrastructure Fund, agreed by
Homes England to cover establishing and negotiating the Heads of
Terms, the marketing of the Woodlands site, creating the supporting
documentation for the revised Woodlands approach to Homes England,
and project management costs. 

That it be NOTED
that a subsequent report for Cabinet will be prepared once
marketing has been concluded for the Council to complete
negotiations with a selected Developer, Landowners and
Buckinghamshire Advantage and enter a Joint Venture/Special
Purchase Vehicle Partnership and/or Sale with a development partner
once marketing has been concluded and terms from the Selected
Developer have been clarified through the marketing and procurement
process.