Decision details

The Cabinet will be asked to consider a business case for a preferred option for the future use of 17-18 Cornhill, Bury St Edmunds.

RECOMMENDED TO COUNCIL (24 April 2018):

That:

(1)     the project objectives set out at paragraph 1.3.1 of Report No: CAB/SE/18/027 for the site, be endorsed;

(2)     as the preferred option and policy approach, the redevelopment (Option 4) of 17-18 Cornhill, be approved;

(3)     an £8.4m capital budget (includes £1.68m purchase and redevelopment budget), funded through the Investing in our Growth agenda fund, be approved in line with paragraph 1.9 of Report No: CAB/SE/18/027;

(4)     it be acknowledged that in line with Recommendations (2) and (3) above, officers will proceed in the development of the site in line with the Council’s agreed Scheme of Delegation; and

(5)     the Council’s Section 151 Officer will make the necessary changes to the Council’s prudential indicators as a result of Recommendation (3).