Key Decision
Councillor Rachel Madden – Executive Lead Member for Finance, Revenues and Benefits
Additional documents:
Minutes:
Cabinet was requested to approve and support the purchase of the Lowmoor Road site for the development of the Ashfield Innovation & Technology Park (AITP) and within it, the Automated Distribution & Manufacturing Centre (ADMC).
Members considered the alternative option of purchasing Site B but this was discounted for the reasons set out in the report.
RESOLVED that
a) approval be given to progress the purchase of the Lowmoor Road site from Nottinghamshire County Council (NCC), in accordance with the draft Heads of Terms (HOTs), as appended to the report;
b) delegated authority be granted to the Executive Director of Place, in consultation with the Executive Director of Governance, Corporate Resources Director and Executive Lead Member for Finance, Revenue and Benefits to complete the purchase of the Lowmoor Road site from NCC in accordance with the draft Heads of Terms;
c) Council be recommended to approve the funding for the purchase of the site, as outlined in the report.
Reason:
To facilitate the construction of an Automated Distribution & Manufacturing Centre (ADMC) as a flagship Towns Fund project to support the adoption, integration and expansion of modern technologies amongst local regional businesses to improve productivity and competitiveness.