8 Elephant and Castle Regeneration - Shopping Centre
To seek approval in principle to enter into a cooperation agreement.
1. That in principle agreement be given to enter into a Co-operation Agreement with KPI III SARL and Lend Lease (Elephant and Castle) Ltd, the initial structure of which is set out in paragraph 9 of the report.
2. That in principle agreement be given to enter into an Agreement with KPI III SARL for the regeneration of the shopping centre, the principal terms of which are set out in paragraphs 10 -13 of the report.
3. That in principle agreement be given to vary the Regeneration Agreement dated between the council and Lend Lease (Elephant and Castle) Ltd to reflect the amended approach described in the report.
4. That the head of property be instructed to negotiate the detailed terms of the Agreements referred to at 1-3 above, and report back to cabinet on the conclusion of those negotiations.
5. That the head of property be instructed to ensure that the communication and consultation elements of the Co-operation Agreement outlined in paragraph 8 of the report are fully compliant with the Regeneration Agreement consultation strategy as outlined in paragraph 18 of the report. This includes the clear expectation that initial, indicative computer generated images of the shopping centre will be issued to the Regeneration Forum on the 26 May 2011.