Agenda item

A report from the Executive Director Place is attached.  (Key decision – reference number 5309)

Councillor Nesil Caliskan (Leader of the Council) introduced the report of the Executive Director Place, seeking approval for the implementation of the Meridian Water Estate Management and Place-keeping framework.

NOTED

1.    The need for the framework was outlined, and for the formation of an Estate Management Company.

2.    It was confirmed that consistent standards would be ensured across all the public realm, that the Council would retain overall control of estate management, and there would be appropriate governance in place.

3.    Officers confirmed that the Estate Management Company would be established at the start of next year, and would become operational when the first homes were constructed.

4.    Officers advised how the Council’s sustainability strategy would be supported, including recycling initiatives and a community garden. There were opportunities to be innovative at the estate.

Alternative Options Considered:

1.    Option 1: Do nothing. This is not an option as Meridian Water will require multiple levels of management to ensure a safe and pleasant environment for residents and visitors. A management plan is a contractual obligation with the developer, and the management of the estate as it currently stands sits within the Meridian Water team, therefore a precedent is set.

2.    Option 2: Run all estate management for Meridian Water directly from Enfield, without an EMC in place. As Meridian One and Meridian Two are to be private estates this would require consent from the developer and internal agreements within the Council to deliver services. It is unlikely that Vistry would provide consent for a number of commercial reasons, including the risk to sales.

3.    This is not an option as it runs contrary to the commercial position presented when developers were invited to bid for the opportunity. The establishment of an Estate Management Company was written into the Development Agreement and Head leases.

DECISION:  The Cabinet agreed to

1.    Approve the Estate Management and Place-keeping Framework at Meridian Water, as set out in the report and appendices.

2.    Note the establishment of the internal Meridian Water Estate Management governance board.

3.    Note that a report will be brought back to Cabinet later in 2022 seeking approval for the Meridian Water Estate Management Strategy as well as providing an update on progress.

4.    Approve the formation of an Estate Management Company limited by guarantee for the purposes of mobilising and delivering estate services at Meridian 1 and 2.

5.    Delegate to the Meridian Water Programme Director (in consultation with the Director of Law and Governance) to finalise the constitutional documents of the Estate Management Company and other such matters as are necessary to (i) incorporate and register the company and (ii) facilitate the objectives identified in the report.

6.    Approve the principle of extending a working capital facility estimated at £355k treated as a loan from the General Fund reflecting the estimated costs to be covered until such time as sufficient service charge income is generated and on the proviso a satisfactory Business Plan is submitted to demonstrate the loan can be repaid with interest, within a reasonable timeframe with no cost to the Council.

Reason:

NOTED the detailed reasons set out in paras 8 to 12 of the report.

(Key decision – reference number 5309)