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The Head of Regeneration Delivery presented the report of the Director of Regeneration and Place. The report sought approval to enter into a Deed of Novation of Contract in respect of the Wirral Waters Investment Fund Grant Funding Agreement dated 23 February 2023, to enable the delivery of Egerton Village, a new high quality mixed-use development to come forward within Wirral Waters.

The report stated that the recommendations would also enable Starship Regeneration Egerton Village Limited to progress the development which would support the priorities of the Wirral Waters Investment Fund, Birkenhead 2040 Framework, and the Council Plan.

Members stated their enthusiasm for the project and sought assurances on the financial security of the agreement. It was noted that while no absolute guarantees could be offered, officers were confident in the agreements and contractual obligations of Peel L&P to complete the project should Starship not be able to deliver.

It was proposed by Cllr Jo Bird that the recommendation in the report be amended to include the words “in consultation with the Director of Finance” after the first line: “That the Director of Regeneration and Place”. This was agreed by the Head of Regeneration Delivery as an amended officer recommendation.

On a Motion proposed by Councillor Andrew Hodson and seconded by Councillor George Davie, it was:

Resolved - That the Director of Regeneration and Place, in consultation with the Director of Finance be authorised to approve the novation of the Grant Funding Agreement between the Council and Peel L&P Investments and Property Limited for the Egerton Village project to Starship Regeneration Egerton Village Limited with Peel L&P Holdings (UK) Ltd acting as continuing Guarantor subject to the requirements as summarised in paragraph 5.1 of this report being satisfied.