Decision

RESOLVED:

Mayor and Cabinet

In relation to the Catford Regeneration Partnership Ltd:

•         Subject to approval of the recommendations in 2.2.1 to 2.2.4, endorsed the continuation of the business plan for the company as set out in Section 5 of the report, unchanged from last year, and delivers against the Shareholder objectives and delegated authority to the Executive Director for Place to implement and deliver the Council's Business Plan for the company.

•         Approved the new CRPL loan agreement, regularising the current financing arrangements, and including an additional loan facility of up to £500,000, to provide greater flexibility in managing CRPL's cash flow during the delivery of the Catford regeneration programme, while supporting the Council's strategic objective of delivering long-term regeneration benefits within Catford town centre.

•         Approved CRPL’s continued capitalisation of interest on the loan for a further period of two years and to support CRPL while it implements a long term plan for the assets of the Catford Regeneration Parnership Limited in line with the Council’s Parent Company Guarantee.

•         Approved the Bad Debt Write Off for rental arrears totalling £1,280,249.46 and service charge arrears totalling £110,896.34. 2.2.5.

•         Delegated authority to the Executive Director for Corporate Resources, in consultation with the Director of Law and Corporate Governance, to finalise, agree, and execute the terms of the CRPL loan agreement.

•         Approved that a financial assessment and comprehensive review of the purpose of Catford Regeneration Partnership Limited (CRPL) and its role in supporting the Council’s wider regeneration ambitions for Catford is undertaken, in partnership with CRPL. The council and CRPL will agree a course of action to mitigate the council’s financial exposure, approving a budget allocation of £400,000 to undertake the review, financial assessment and due diligence process.

In relation to the Council’s strategy for the regeneration of Catford Town Centre:

•         Approved and endorse the Council’s Catford Town Centre Business Plan 2026-30 and the associated workstreams set out in 6.5 of this report.

•         Approved an annual allocation of £250,000 revenue budget totalling £1,250,000 over the business plan period. The funding for 2026-27 will be made by the use of reserves. Future years budget allocation will form part of the budget setting exercise in each year and increase the council’s savings target by £1,000,000.

•         Approved and recommended that Full Council approve an annual increase of £250,000 totalling £1,250,000 to the existing capital budget to support the delivery of the Catford Business Plan 2026-30.

•         Approved the preparation of a new Catford Town Centre Framework and, delegate authority to the Executive Director for Place, in consultation with the Cabinet Member for Inclusive Regeneration, Planning and Housing Delivery, to undertake all activities, procurement and stakeholder engagement required to develop the Catford Town Centre Framework within the approved budget.

In relation to specific regeneration projects that form part of the Catford Town Centre Business Plan 2026-30:

•         Approved the revised approach for the A205 project and delegated authority to the Executive Director for Place to undertake all works required to deliver this within the approved budget and programme parameters.

•         Delegated authority to the Executive Director for Place in consultation with the Director for Law and Corporate Governance to agree amendments to the Funding and Collaboration Agreement with TfL and related activities necessary to deliver the A205/A21 road improvement scheme within the approved budget.

•         Delegated authority to the Executive Director for Place to undertake all procurement and related activities necessary to deliver the Catford Station Links project within the approved budget.

•         Approved the advertising and making of the changes to the existing Off-Street Car Park Order for the discontinuation of Thomas Lane Yard car park; and

•         Following consideration of any objections received during the statutory consultation period, delegated authority to the Director of Public Realm in accordance with the Council’s scheme of delegation, to make a decision on unresolved objections and to implement the Order.

•         Approved the advertising and making of amendments to the existing on-street waiting, loading and parking orders to introduce double yellow line waiting restrictions in Doggett Road; and

•         Following consideration of any objections received during the statutory consultation period, delegated authority to the Director of Public Realm in accordance with the Council's Scheme of Delegation, to make a decision on any unresolved objections and to implement the Traffic Management Order.