Decision Maker: Cabinet,
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Cabinet was provided with an update on progress towards the Full Business Case (FBC) for the Kingshurst redevelopment and to seek approval for the use of Council reserves to deliver the project to FBC and complete property acquisitions.
The report reminded Members that the Kingshurst project was to transform the village centre through the delivery of a thriving community and health-led regeneration scheme. Section 3 of the report provided Members with a progress update since the last report received by Cabinet in December 2020. The report also detailed the current funding position, including site assembly costs and overall capital costs.
Section 4 of the report detailed the options which had been considered. Members were reminded that the scheme was a once in a generation opportunity to create a high quality, community focussed, new centre for Kingshurst. The Council’s proposals had received a good level of local support.
Members were advised that no external funding opportunities had been identified that would deal with the anticipated funding shortfall for the FBC in the short term. Whilst officers would continue to explore such opportunities, this could not be relied upon in order to keep project development on track. Similarly, a funding bid had been made to cover the remaining costs of acquisition. However, this could not be relied upon due to uncertainty over the outcome.
Council reserves relating to the regeneration of North Solihull and investment in property development were available and the approving of the recommendations in the report would ensure that good progress continued to be made. Further financial details were set out in a private appendix.
Members questioned what the time line was for knowing the outcome of the levelling up bid, Officers advised it was anticipated that Council would know more in the autumn. With regard to a date when the post office and pharmacy would open, Officers confirmed work was on track, but no specific time could be provided.
In relation to those tenants who lived above the Parade and who were concerned about being rehoused, Officers confirmed all tenants affected had been contacted regarding rehousing requirements and this engagement was ongoing. If Members had details of residents specific concerns then they were invited to discuss these with Solihull Community Housing privately.
(i) That progress on the development of the Kingshurst project be noted and the following be approved:
(a) The use of Council reserves as set out in section 3.7 of the report to fund the ongoing development of the Full Business Case;
(b) The use of Council reserves as set out in section 3.10 of the report to fund the remaining property acquisitions.
Report author: Perry Wardle
Publication date: 16/07/2021
Date of decision: 15/07/2021
Decided at meeting: 15/07/2021 - Cabinet
Effective from: 24/07/2021