Wednesday 12 June 2024
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Nottingham

£400,000 more cash for Broad Marsh plans includes half from Homes England

Nottingham City Council benefits from more cash towards the redevelopment of the Broad Marsh site.

The decision outlines the council’s plan to accept a £200,000 grant from Homes England.

This grant will be used to develop a more detailed business case for the Broad Marsh site.

Additionally, the council has decided to allocate another £200,000 from funds previously approved for the Broad Marsh redevelopment.

 

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Key Points :

The council will accept £200,000 of grant funding from Homes England.

An additional £200,000 will be allocated from funds approved for Broad Marsh redevelopment, as per the decision made by the Executive Board in October 2020.

The council will enter into a grant agreement with Homes England, the specifics of which are yet to be finalized.

The Director of Planning and Transport has been granted the authority to finalize and enter into the agreement.

The council will commence the procurement process to appoint necessary resources for the business case development. The Director of Planning and Transport will have the authority to enter into the procured contracts.

The primary reason for this decision is the ongoing development of the master plan for the Broad Marsh redevelopment. A more detailed business case is essential to identify a viable delivery and procurement strategy once the final master plan is complete.

Homes England’s offer of a £200,000 grant towards the cost of the business case development needs to be formalised through the conclusion of a Grant Agreement.

The option of not accepting the grant was considered but was rejected as it would mean a significant loss of funding for the scheme.

Various departments, including Legal, Finance, Procurement, and Human Resources, have provided advice on this decision. The council has emphasised the importance of understanding the terms and conditions attached to the grant before accepting it.

Furthermore, the procurement of external solicitors, if deemed necessary, will be done in conjunction with the Director of Legal and Governance or the Head of Legal Services.

The decision is subject to a call-in, with the expiry date set for 17th October 2023.

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•  Nottingham’s Broad Marsh Green Heart regeneration scheme appoints contractor

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