Issue - meetings
Billingsgate Market – Update on Joint Working with the City of London Corporation
Meeting: 28/10/2020 - Cabinet (Item 6)
6 Billingsgate Market - Update on Joint Working with the City of London Corporation PDF 352 KB
Additional documents:
- 6.8a Appendix 2 - Billingsgate Coop Agt HoTs EXEMPT , View reasons restricted (6/2)
- 6.8b Appendix 3 - Billingsgate Market EXEMPT , View reasons restricted (6/3)
- Webcast for Billingsgate Market - Update on Joint Working with the City of London Corporation
Decision:
Pre-Decision Scrutiny Questions and officer responses were noted.
The exempt appendix was noted.
DECISION
1. To note the position with respect to the future of Billingsgate Market and the joint working with the City of London Corporation (the City) in relation to its future redevelopment.
2. To approve the terms of a Cooperation Agreement between the Council and the City as outlined in paragraph 3.7 of the report, to be entered into on or before the laying of the draft Bill in Parliament by the City on the 27 November 2020, in accordance with the heads of terms included in the exempt Appendix 2 to the report.
3. To approve the statement of support for the future redevelopment of Billingsgate Market attached at Appendix 1 to the report.
4. To approve the Qualifying and Abortive Costs set out in the exempt Appendices 2 and 3 to the report.
5. To agree to delegate authority to the Corporate Director of Place, in consultation with the Corporate Director of Governance to agree minor changes to the heads of terms as may be appropriate in the light of further negotiations, and to complete the Cooperation Agreement.
6. To note the financial risk to the Council set out in paragraph 6 of the report and in the exempt Appendix 3 to the report.
Action by:
CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)
(Divisional Director Property and Major Programmes (M. Rourke)
Minutes:
The Mayor introduced the report proposing to enter into an agreement with the City of London Corporation in relation to the future development of the Billingsgate Market site. He explained that at this stage it only provided initial agreement but eventually this could result in a long-term commitment. There was a significant amount of work that would need to be undertaken before final agreement.
This agreement would allow the City to consolidate its markets on a site elsewhere in East London and it was therefore important to see how the existing site should best be used including looking at the needs of the local area.
The exempt appendix setting out confidential financial information in relation to the proposals was noted as were the Pre-Decision Scrutiny Questions and officer responses.
The Mayor welcomed continuing conversations on this matter over the coming period as more detailed plans were developed. He proposed the recommendations to Cabinet, and they were agreed without dissent. It was:
RESOLVED
1. To note the position with respect to the future of Billingsgate Market and the joint working with the City of London Corporation (the City) in relation to its future redevelopment.
2. To approve the terms of a Cooperation Agreement between the Council and the City as outlined in paragraph 3.7 of the report, to be entered into on or before the laying of the draft Bill in Parliament by the City in November 2021, in accordance with the heads of terms included in the exempt Appendix 2 to the report.
3. To approve the statement of support for the future redevelopment of Billingsgate Market attached at Appendix 1 to the report.
4. To approve the Qualifying and Abortive Costs set out in the exempt Appendices 2 and 3 to the report.
5. To agree to delegate authority to the Corporate Director of Place, in consultation with the Corporate Director of Governance to agree minor changes to the heads of terms as may be appropriate in the light of further negotiations, and to complete the Cooperation Agreement.
6. To note the financial risk to the Council set out in paragraph 6 of the report and in the exempt Appendix 3 to the report.