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RESOLVED to:
 
1)   
Agree the Seventh annual Business Plan for Besson Street attached
as Appendix A to the Part 2 report and authorise the
Council’s appointed directors to the HoldCo to
sign the Business Plan;
2)   
Following the sign-off of the Business Plan, delegate authority to
the Executive Director for Finance, Digital and Corporate
Resources, in consultation with the Interim Executive Director of
Place, to implement the Besson Street Business Plan once
finalised;
3)   
Approve the extension of the pre-development loan from 31 August
2024 to no later than 31 January 2025 and increase the maximum loan
as set out in the Part 2 report;
4)   
Delegate authority to the Executive Director for Finance, Digital
and Corporate Resources, in consultation with the Interim Executive
Director of Place and the Cabinet Member for Finance, Resources
& Procurement, to approve the optimal financing arrangement
(including necessary amendments to the HoldCo
agreement) for the costs to be incurred to fund the 2024/25
Business Plan activities where these are not already funded by the
existing loan agreement, as set out in the Part 2 report;
5)   
Approve the extension of the longstop date from August 2024 to no
later than 30 September 2025;
6)   
Approve the Council entering into an agreement with Besson Street
LLP for the use of Right to Buy receipts for the affordable homes
and CIL funding as set out in the Part 2 report;
7)   
Delegate authority to the Executive Director for Finance, Digital
and Corporate Resources in consultation with the Interim Executive
Director of Place, the Director of Law and Corporate Governance and
the Cabinet Member for Inclusive Regeneration & Planning to
take to take all such further ancillary actions as are necessary to
give effect to the recommendations set out in this report;
8)   
Confirm that all agreements, including but not limited to grant
funding, clawback and overage agreements, be in a form approved by
the Director of Law & Corporate Governance.