Agenda item

To note the progress made in connection with the Elephant and Castle Regeneration Project.

RESOLVED:

1.  That the significant progress made in connection with the Elephant and Castle Regeneration Project in that the principal commercial terms have now been agreed with Lend Lease subject to legal drafting be noted.

2.  That officers be instructed to complete the negotiation of the Regeneration Agreement (RA) with Lend Lease (LL) in order that the finalised terms can be reported in June 2010 for consideration and approval.

3.  That progress made in relation to negotiations with St Modwen be noted and officers report back in June 2010 on the outcome of those negotiations.