Issue - meetings

The Council resolved:-

to approve the motion as circulated to the meeting.   

With reference to Article 6 of the minute of its meeting of 11 September 2023, the Council had before it a report by the Chief Officer - Corporate Landlord and the Chief Officer - City Development and Regeneration which summarised the outcomes of discussions and activity instructed by Council in September 2023 and proposed a means of developing the sites to fully realise the ambitions of the Regional Economic Strategy.

The report recommended:-

that the Council -

(a)           agree that the land at St Fittick’s Park and Doonies, as identified in the report, be taken forward for development subject to the safeguards identified within the report;

(b)           note the Council instruction of 11 September 2023 that the St Fittick’s Park OP56 and Doonies OP61 sites were “only to be made available for lease and must remain in Council ownership and that, furthermore, any such lease agreement was only to be entered into at the point where an end user was agreed by Aberdeen City Council and financial close was reached” and agree that this instruction shall still apply to the St Fittick’s Park site (OP56);

(c)           note that the Doonies site (OP61), following further investigation, has been found to be capable of accommodating a variety of end users and it is accordingly unlikely that a number of leases with numerous parties could be agreed simultaneously; and therefore agree that, if development was to be delivered, this would involve an element of speculative site enabling works being undertaken;

(d)           agree to establish a new company with ETZ Ltd, such company to work in partnership to make the land at both sites available for development, with ETZ Ltd underwriting all costs for on and off-site enabling works and the costs of servicing the company;

(e)           agree the principles of the Heads of Terms (Appendix 2) and instruct the Chief Officer - Commercial & Procurement Services to, following consultation with the Convener of the Finance and Resources Committee, further develop the Heads of Terms into a formal legal structure for the company; and authorise that Chief Officer to approve such a structure on behalf of the Council and to do anything necessary to set up such a company and bring such a structure into effect;

(f)             agree that the Council’s ALEO Assurance Hub shall maintain oversight of the company once operational and that the company shall have 3 directors from the Council and 3 directors from ETZ Ltd;

(g)           instruct the Chief Officer - Commercial & Procurement Services to identify 3 Council officers to act as Directors of the company, such officers among them to possess sufficient technical, economic development and locality planning expertise; and to identify such replacements as may be required from time to time;

(h)           agree that the Council forego any financial return from the sites once income streams are established, and agree the principle that any surplus from the development and leasing of land be utilised as follows:

1)             to support the delivery mechanism/operating costs of the company to be  ...  view the full minutes text for item 12