Meeting documents

To consider a joint report by the Head of Legal and Democratic Services and Head of Regeneration Services (Reference HLDS/07/29 and HRgn/07/09 attached).

To approve:

(i)         that the Council enters into an agreement with Caddick (Scarborough) Ltd ("Caddick"), Caddick (Properties) Limited (the "Guarantor") and Plaxton Park Industrial Estate Ltd ("PPIE") supplemental to the Development Agreement dated 11 December 2006 made between (1)  the Council (2)  Caddick and (3) the Guarantor (the "Development Agreement") relating to the construction of infrastructure works (the "Link Road")  on the Business Park Site (the "First Agreement").

(ii)        that the Council enter into an agreement with PPIE for the construction of infrastructure works (the "PPIE Road") on the land to the east of the Business Park currently in the leasehold ownership of PPIE Ltd (the "Second Agreement").

(iii)       that the Council vary the terms of the Yorkshire Forward Funding Agreement and ERDF funding agreement relating to the Business Park and enter into any documentation required by the parties to those agreements to document such variations.

(iv)       that the Council enter into agreements with the relevant statutory undertakers to comply with the terms of the Development Agreement.

(v)        that the Council enter into a Step In Deed with Caddick and its Funders.

(vi)       All such agreements and documentations on terms to be approved by the Council’s Head of Legal and Democratic Services.

Highlighted Risks

If the agreements are not completed the Business Park project will be jeopardised.  A delay or failure to agree terms between the two adjoining landowners (Caddick and PPIE) in relation to the provision of the Link Road and the PPIE Road may lead to a refusal by Government Office to issue the funding required to carry out the Project.  A delay would jeopardise the delivery of the outputs within the timescales set by Yorkshire Forward and Government Office meaning the Project will be effectively terminated.