Agenda item

A report from the Director of Regeneration and Environment will be circulated as soon as possible. This seeks authority to move the regeneration forward. (Key decision – reference numbers 4033/3687)

(Report No.88)

(9.10 – 9.15 pm)

TO FOLLOW

Councillor Alan Sitkin (Cabinet Member for Economic Regeneration and Business Development introduced the report of the Director of Regeneration and Environment (No.88) seeking approval to provide further authorisations to move the regeneration of both Meridian Water and Ponders End High Street (Electric Quarter) forward so that they could improve opportunities for the local communities.

NOTED

1.               The Overarching Borough Agreement with the GLA for Meridian Water as set out in appendix 1 of the report.

2.               Councillor Sitkin drew Members’ attention to the main elements of the report including the proposed work on the design and development of the new Meridian Water station vision in conjunction with Network Rail. Endorsement of the Council’s bid to the Mayor of London’s Regeneration Fund was sought, this would support the creation of over 300 new jobs, a training centre and a new viewing gallery at Meridian Water. Members’ noted paragraph 6.6 of the report with regard to the creation of new jobs.

3.               The proposals detailed in the report in relation to Ponders End. In respect of recommendation 2.6 of the report, Councillor Sitkin wished to insert the words “up to” in relation to the allocation of £0.5m to fund feasibility work on the revitalisation of Ponders End High Street (decision 6 below refers).

4.               Councillor Oykener outlined the value to the Borough of achieving Housing Zone status for Meridian Water, this would unlock £25m of investment into affordable housing in the area.

5.               In respect of the Ponders End “Electric Quarter” regeneration, Councillor Taylor requested that proposals be brought forward in recognition of the contribution of Joseph Swan to the area as part of the Borough’s local heritage.

Alternative Options Considered: As set out in the body of the report.

DECISION: The Cabinet agreed to

1.               Approve the terms of the Overarching Borough Agreement (as set out in Appendix 1 of the report) with the GLA, which governed the Meridian Water Housing Zone obligations and authorised the Authorised Legal Officer to sign the contract on behalf of Enfield Council.

2.               Authorise £1.6m from the existing Neighbourhood Regeneration capital programme to enable the design and development of the new station vision in conjunction with Network Rail.

3.               Note and endorse the Council’s bid to the Mayor’s London Regeneration Fund which would support the creation of over 300 new jobs, a training centre and a new viewing gallery at Meridian Water.

4.               Authorise £1.35m of the existing Neighbourhood Regeneration Capital programme to forward fund part of the London Regeneration Fund bid expenditure.

5.               Authorise the Council to underwrite the initial cost of demolition and meanwhile uses from the existing Neighbourhood Regeneration capital programme in the sum of £1.2m to advance delivery of the “Electric Quarter”.

6.               Authorise the allocation of up to £0.5m from the existing Neighbourhood Regeneration Capital Programme to fund feasibility work on the revitalisation of Ponders End High Street.

Reason: These are two priority areas for the Council and the measures set out in the report help to improve opportunities for local communities.

(Key decision – reference numbers 4033/3687)