The information was as follows:
1) A meeting has been held between representatives of Hereford Futures and Stanhope at which Stanhope asserted that without access to further funds to “incentivise potential tenants” a final deal could not be resolved for the retail development.
2) A senior executive of British Land with responsibility for negotiating progress on the retail development has asserted that as each day passes the likelihood of a deal being brokered becomes less and less likely due to the deteriorating economic climate under which the deal is being done. Further, that if any development is to occur on the Old Cattle Market site, the remaining restrictions on the developers approaching existing High Town retailers will have to be lifted.
As a response to this It’s Our County proposed the following urgent motion at this week’s Full Council Meeting
This Council resolves that:
a) There will be no further relaxation of the restrictions that limit the developers of the Old Cattle Market site from approaching existing High Town retailers and that the list of named retailers that they cannot approach be shared confidentially with group leaders and the Chairman of Overview & Scrutiny to ensure policing of this policy?
b) No further funding is made available from Herefordshire Council to the developer Stanhope for this project?
c) Cross party talks are immediately held to develop fall back plans for the site should a deal not be forthcoming?
The Council decided that the Edgar Street Grid situation was not ‘an urgent local issue’ and so therefore the Motion was not allowed, i.e. it was not discussed. It’s Our County have therefore put it forward for discussion in the next full council meeting which is September 28th 2012.