Purpose

To consider a report on the proposed dissolution of the development management agreement relating to the Future Works site.

Decision

(a)  Approved authorisation for the dissolution of the Development Management agreement between Land Securities and the Council on the basis recommended in Confidential Appendix C – SBC Financial Analysis.  The dissolution of the Development Management agreement on the basis outlined will allow significant funds to be recognised in FY 25 / 26 without adjustment or offset.  It is also anticipated that reaching this agreement with Land Securities would potentially unlock investment in the remaining phases of the Future Works development, a further step in the continued regeneration of Slough’s town centre.

(b)  Delegate authority to the Executive Director of Regeneration, Housing & Environment in consultation with the Deputy Leader with responsibility for Finance, Assets & Transformation and the Executive Director Corporate Resources (s151 Officer)  to dissolve the Development Management agreement between Land Securities and the Council on the basis recommended in Confidential Appendix C without material adjustment to the recommended financial position or timing outlined therein.