Purpose

To authorise the variation of the long stop
date to 30th April 2026

Content

RESOLVED
 
KEY DECISION
 

 That the Executive:
 
i)     
Agreed to a further extension to April 2026 of the
Planning Longstop date in the Promotion Agreement and consequently
an extension to the Deed of Variation on the same terms approved by
the Executive in December 2023.
 
ii)    
Delegated authority to the Assistant Director of
Assets and Environment in consultation with the Executive Member
for Highways, Travel & Assets, to approve further extensions to
the Promotion Agreement and Deed of Variation, should that be
required.
 
 
Reasons for Recommendation: The
reasons for recommending the extension of the Planning Longstop
date in the Promotion Agreement is that it will:
 
a)   
Provide a more definite timeframe for Planning to be
resolved as April 2025 is now looking unlikely.
b)   
It will provide the Council with the most certainty
that the scheme will be brought forward for housing.
c)   
The Deed of Variation to the overage provision on
the title to the land will continue as long as there is a valid
Promotion Agreement. Agreeing to extend the Planning Longstop date
is the most cost-effective way to ensure that the Deed of Variation
to the overage provision continues and significantly reduces the
amount of legal and other professional fees potentially payable by
the Council.
d)   
The decision supports the corporate plan and the
Rushden East Sustainable Urban Extension (SUE).
 

 

Alternative Options Considered:
If the Council does not consent to extend the Planning Longstop
Date in the Promotion Agreement, the Deed of Variation to the
overage provisions on the Land’s Title will expire after
30th April 2025 and any subsequent change of use or
planning consent would be subject to the original (unvaried)
transfer terms as set out in the original overage agreement. This
would hypothetically result in a larger capital receipt for the
Council; however, the Landowner and Promotor have stated that if
they cannot obtain an extension from the Council, they will not
pursue the Promotion Agreement and Planning Application and will
let it lapse. This would result in the site not being developed and
would create issues for the Rushden (SUE) because it sits in the
centre of the site, and the Council would not receive a capital
receipt.