Purpose

The
report will have two key components. The first component will
include a reflection on progress to date now that the CPO has been
completed and the Northern Access Road is nearing completion. It
will also set out the strategic aims, vision and corporate
financing expectations for the next 4 years and beyond. The second
component will be focused on the delivery strategy being prepared
by Treveth, subject to analysis and review to ensure compliance
with legal, fiscal and regulatory requirements.
 
Part 2
(exempt) appendix expected.

Content

DECISION:

 

RESOLVED:

 
1. 
That, noting the delivery challenges identified in
the report and the measures being taken to address those
challenges, Cabinet endorses and supports LGV Property Holdings LLP
to bring forward a Full Business Plan for scheme delivery during
the first quarter of the 2026 financial year that has full regard
of the Council’s fiscal parameters and in line with the
vision and principles for the delivery of the Langarth Garden
Village outlined in the Master Plan. The Business Plan to be
determined through the 2026/7 governance cycle.
2. 
That a proposal and business case for expedited
delivery of the first homes as subset of Phase 1 at both the East
and West of the scheme be brought forward in tandem with the Full
Business Plan.
3. 
That authority be delegated to the Section 151
Officer, in consultation with the Deputy Leader and Portfolio for
Resources, to approve and enter into loan agreements in order to
provide up to £1.5m working capital facility to LGV Property
Holdings LLP.
4. 
That Cabinet supports LGV Property Holdings LLP
bringing forward and submitting to the Local Planning Authority a
revised proposal for the delivery of infrastructure and a more
different tenure mix through the planning Section 106 agreement to
address issues of scheme viability.
5. 
That Cabinet supports the continuing work with Homes
England to secure further funding including, but not limited to,
supporting the delivery of affordable housing and first phase
infrastructure.

 

 

Reason for the Decision: 
 
As
contained within the report.
 

Alternative options considered:
 
None
other than contained within the report.
 

Conflicts of interest declared:
 
None.
 

Dispensations granted in respect of a conflict of
interest:
 
N/A