Decision details

Cabinet considered the proposals in relation to the option Consideration was given to proposals in relation to the option agreement with the developer for the Lion Farm site, Oldbury.

Reasons for Decision

The Council entered into an Agreement with JKA (Developer) in 2013 to explore the establishment of a Retail Outlet Village on the Lion Farm site in Oldbury. Consideration was now given to resolve the long-term impasse with the developer in relation to the Option Agreement for the Lion Farm site and as part of the Action Plan to implement the recommendations of the recently published Grant Thornton report which identified this issue for resolution.

Having considered the options agreement, the Cabinet was of the view that the Council should trigger the Arbitration Clause of the existing Agreement to refer the matter for Expert Determination in order to resolve the current impasse.

Alternative Options

An options appraisal was considered in order to determine the best course of action for the Council.  It was agreed to trigger the Arbitration Clause of the existing Agreement to refer the matter for Expert Determination.

Agreed:-

(1)          that in order to resolve the long-term impasse with the developer in relation to the Option Agreement for the Lion Farm site, approval be given to Option 2: Trigger the Arbitration Clause of the existing Agreement;

(2)          that in connection with Resolution (1), the Director of Regeneration and Growth and the Director – Law and Governance and Monitoring Officer be authorised to take the necessary actions in relation to legal processes and documentation to implement the preferred option;

(3)          that the Director of Regeneration and Growth a be authorised to submit a further detailed report on the implementation of the preferred option including the approval of any specific financial implications.

agreement with the developer for the Lion Farm site, Oldbury.