Agenda item - Madeira Drive Regeneration Framework and Madeira Terraces

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

RESOLVED:

1)        That the Committee agrees the Madeira Drive Regeneration Framework, attached at Appendix 1. 

2)        That Committee note that the framework will be used as the basis for further engagement with key stakeholders through a stakeholder group ‘The Seafront Investment Team’, with further reports on the regeneration of Madeira Drive brought back to this Committee.

3)        That the Committee note the 4-point plan for seeking funding for the restoration and refurbishment of the Madeira Terraces.

164.1      The Committee considered a report of the Executive Director for Economy, Environment & Culture in relation to Madeira Drive Regeneration Framework and Madeira Terraces. The report sought approval of the draft Madeira Drive Regeneration Framework, attached as Appendix 1. The report also provided an update on the 4 point plan for securing funding for the restoration and refurbishment of Madeira Terraces. 

164.2      The Chair thanked Officers for the work that had been undertaken, as well as that of the Volks volunteers.

164.3      Councillor Sykes stressed the importance of Stakeholder input to address the heritage and conservation merits of the site. In response to a question it was confirmed that meeting the costs through the Public Loans Board was an option, but to repay any loan the scheme would need aspects of income generation.

164.4      In response to Councillor Mac Cafferty it was explained that the report referenced that any potential solution would likely require private investment, and this had been communicated to potential investors. The Chair noted he had set up an email account to specifically invite comments and interest, and the design principle was to use the arches as commercial space to build a financial base for the scheme.

164.5      In response to Councillor G. Theobald it was confirmed that the scheme would be in three regeneration phases, and the success of the regeneration around the i360 was proof of this workable model. Historic England would look very closely at any scheme, but it was also expected they would be pragmatic in their considerations based on the risk of not redeveloping the site.

164.6      Councillor Mitchell highlighted that the regenerated aches near the i360 had been undertaken with transport funds and were income generating. The seafront scrutiny work had identified the Madeira Drive Arches as being problematic in terms of there being no immediate income generation possibilities, instead requiring some degree of public money for any overall development scheme.

164.7      The Chair highlighted the necessity of making as much progress as quickly as possible in the context of all the other seafront projects that were being delivered. The Chair then put the recommendations to the vote.

164.8      RESOLVED:

1)        That the Committee agrees the Madeira Drive Regeneration Framework, attached at Appendix 1. 

2)        That Committee note that the framework will be used as the basis for further engagement with key stakeholders through a stakeholder group ‘The Seafront Investment Team’, with further reports on the regeneration of Madeira Drive brought back to this Committee.

3)        That the Committee note the 4-point plan for seeking funding for the restoration and refurbishment of the Madeira Terraces.