Agenda item - Madeira Terraces - Coastal Communities Funding Bid

Report of the Acting Executive Director for Economy, Environment & Culture (copy attached).

RESOLVED:

1)     That the Committee note and endorse the Stage 1 funding application, attached as Appendix 1, submitted to the Coastal Communities Fund on 30^th June 2016.

2)     That the Committee agree that officers continue to develop proposals for the restoration and redevelopment of Madeira Terraces with a view to proceeding to a Stage 2 bid, should the Stage 1 application be successful, subject to a further report to this Committee setting out the financial and funding implications.

34.1       The Committee considered a report of the Acting Executive Director for Economy, Environment & Culture in relation to Madeira Terraces - Coastal Communities Funding Bid. The report sought endorsement for Stage 1 funding application to the Coastal Communities Fund and would give Officers permission to move to a Stage 2 bid, were the funding application successful.

34.2       Councillor Morgan noted how strongly he felt about this scheme personally and he welcomed the report as the first steps in the process.

34.3       Councillor Mitchell also welcomed the report in particular the level of detail it contained; she noted that were the bid successful it would go some way to helping attract the rest of the finance that was required.

34.5       Councillor Wealls noted that the Conservative Group were very supportive of the report. In response to questions the Chair explained that the level of detail in relation to the structure had been included to demonstrate the amount of work that needed to be undertaken and that much of this detail would not be known until work commenced. Officers explained that there were some high level detail in the report on the commercial aspects, but it was felt the detailed information would be better included at stage two. In relation to uses of the new units, it was explained that these needed to be seen in the context of other projects in the area and would likely evolve naturally.

34.6       Councillor Janio stated that more should be done to publicise the proposed figure for the project as there had been a misunderstanding of a figure for seafront regeneration in the whole of the city

34.5       In response to Councillor Sykes it was explained that the £4M would allow for a capital/revenue split enabling the Council to proceed through the planning process to construction.

34.6       The Chair then put the recommendations to the vote.

34.         RESOLVED:

1)     That the Committee note and endorse the Stage 1 funding application, attached as Appendix 1, submitted to the Coastal Communities Fund on 30 June 2016.

2)     That the Committee agree that officers continue to develop proposals for the restoration and redevelopment of Madeira Terraces with a view to proceeding to a Stage 2 bid, should the Stage 1 application be successful, subject to a further report to this Committee setting out the financial and funding implications.