ASSET MANAGEMENT GROUP - s106 agreement, Saxonvale, Frome
Mendip District Council officers have been given authority to sign a s106 agreement with Acorn Property Group (the developers with a proposed scheme to transform the dormant town-centre site at Saxonvale, Frome).
The item was presented to members of Mendip's Asset Management Group yesterday (24th August 2022) to ensure a continued transparency and good governance and it's aligned to the Council's decision-making process for signed formal contracts. The vote was unanimous.
At the meeting, councillors were advised that legal representatives of all parties had negotiated and agreed the final version of the s106, and that Mendip District Council, as landowner, pursuant to a Sale and Overage Agreement entered into with Acorn, was now contractually obliged to sign the document to allow matters to progress.
Further formal advice was given that failure to sign the s106 would constitute a breach of contract, and would open up the potential for legal action against the Council. The signing of the s106 enables outline planning permission to be issued to Acorn.
The District Council owns the 10-acre Saxonvale site, having purchased it in August 2018 for the benefit, and on behalf of, all residents in Mendip. And the Council has a statutory responsibility to obtain 'Best Consideration' for the site and those Mendip taxpayers.
The development was entered into with the objective of delivering returns that could be invested in front line services for the people of Mendip.
Saxonvale is a key priority project for Mendip. The Council took a bold and unusual move in buying the brownfield site for development. It recognised that the heritage site was a generational opportunity to deliver an exemplar, sustainable scheme with a vibrant, mixed use neighbourhood, with flexible commercial/employment space, high quality public realm, and homes for all ages.
You'll find the agenda, report pack, and a playback link to view the proceedings of Asset Management Group, here:
Asset Management Group, Wednesday, 24 August 2022