Issue - meetings

A report from the Executive Director – Place is attached. (Report No.135, agenda part two also refers). (Key decision – reference number 4984)

(Report No.133)

(8.00 – 8.05 pm)

Councillor Nesil Caliskan (Leader of the Council) introduced the report of the Executive Director – Place (No.133) seeking approval of the acquisition of Anthony Way and units 5,11, 11a.

NOTED

1.    That Report No.135 also referred, as detailed in Minute No.15 below.

2.    Enfield Council had been successful in its bid to secure £156m for key infrastructure from Central Government’s Housing Infrastructure Fund (HIF) and needed to purchase a number of parcels of land in order to deliver the proposed infrastructure works as part of the strategy for Meridian Water.

3.    Anthony Way was required to deliver the HIF works. The Council had negotiated with the owner of Anthony Way and adjoining industrial units and had reached an agreement on price. The price was in line with an independent Red Book valuation.

Alternative Options Considered:  Not to purchase the land. This was not recommended as Anthony Way was required for the completion of the Strategic Infrastructure Works (SIW). Purchasing this site through private treaty would allow for works to commence earlier, reducing costs from delays. If the land was not purchased via private treaty the acquisition would require a CPO. This would incur delays which would impact on programme and cost of delivering the SIW.

DECISION:  The Cabinet agreed to:

1.    Approve the acquisition of the site as detailed in the report.

2.    Delegate authority to the Meridian Water Programme Director, in consultation with the relevant legal officer to finalise the documentation for exchange and completion of the acquisition.

3.    Approve the recommendations set out in the Part 2 report.

Reason: 

1.    It was vital that the Council acquired Anthony Way in order to complete the SIW, to unlock the development of homes at Meridian Water. In order to acquire the land in a timely manner and to avoid delays with associated consequences it was recommended to acquire the site by private treaty as detailed in the Part 1 and Part 2 reports.

2.    An independent red book valuation of the site undertaken by BNP Paribas showed that the agreed price demonstrated good value for money. Furthermore, acquiring the site by private treaty avoided costs associated with CPO and costs incurred by delay, increasing the attractiveness of the deal for the Council.

(Key decision – reference number 4984)