Purpose

The alternative to achieving the future acquisition of the land by a negotiated agreement provided by the proposed option agreement would be to request the local planning authority to acquire the land by compulsory purchase to support the delivery of its local plan. This route would have created greater uncertainty, added additional cost to the project, and resulted in significant delays thereby negatively impacting the project. Not acquiring the land at all would have rendered the scheme undeliverable.

Decision

To agree to the acquisition of an option agreement jointly with the two third-party private promoters Barwood Land Securities Limited and Parker Strategic Land Limited in respect of 4.76 acres (1.92 hectares) of land owned by Stoney Stanton Parish Council in exchange for 22.67 acres (9.17 hectares) of land owned by the County Council and a further 1.53 acres (0.62 hectares) of land owned by Parker Strategic Land Limited.

Alternative options considered

Not applicable