Decision details

The following decisions have been taken in consultation with the Golden Valley Executive Programme Board, including the Cabinet Member for Major Developments & Housing Delivery and Cabinet Member for Finance and Assets
To facilitate the discharge of conditions within the Development Agreement the Updated Viability Model is approved, noting:
(i) The model satisfies the requirements in the Viability Condition.
(ii) The Maximum Commitment will be set accordingly at £97.35m.
(iii) The total funding requirement (The Funding Envelope)
(iv) That the Viability and Maximum Commitment conditions must be the last two conditions to be discharged. These conditions will therefore formally be discharged following satisfaction of all other conditions.
The following are also approved to facilitate the discharge of conditions within the Development Agreement:
1. Minimum Land Value Memorandum
2. Innovation Centre Plan, the Estate Infrastructure Plan and the License Area Plan. This approval enables discharge of the IC Plan condition.
3. Plot Programme. This will enable satisfaction of the Plot Programme Condition.
4. The entering into the Estate Service Charge Deed
5. The Building contract, subject to consultation with the Cabinet Member Major Developments & Housing Delivery and Cabinet Member Finance and Assets on the final version of the contract and the associated details;
6. The LAD Deed. This approval enables discharge of the Building Contact condition.
7. The waiver of the Planning Agreement, Relevant Consent and Road Order Conditions

To progress through the Primary Condition for the Golden Valley project, enabling discharge of key requirements within the Development Agreement (DA) and Development Funding Agreement (DFA) and allowing the project to move into the delivery phase

n/a

Golden Valley Executive Programme Board, including the Cabinet Member for Major Developments & Housing Delivery and Cabinet Member for Finance and Assets and relevant Senior Officers have been consulted as part of the decision-making process.