Development Agreement
What is the Development Agreement?
The Development Agreement details the matters that are required to enable the development work to start. These include progressing with the acquisition of land within the development area (including the making of a compulsory purchase order) and marketing the site to ensure that interest from commercial and residential sectors is encouraged.
The Development Agreement is in place; all three partners, Welwyn Hatfield Council, English Partnerships and St. Modwen Properties Ltd have committed to a comprehensive framework. The aim of which is to bring about the redevelopment of the new shopping centre with 275 residential units.
Now the processes required to enable the development work to start can begin. These include:
- Progressing with the acquisition of land within the development area. In this respect, St. Modwen has already acquired a number of properties in the Centre, a process that can be supported by a compulsory purchase order.
- Marketing the development to ensure that interest from commercial and residential sectors is secured.
At the same time, structures and agreements are in place to make every effort to support the existing town centre businesses to maintain economic viability as far as is possible in anticipation of the new community facilities, shops and services and affordable homes.
The next stage in the process requires the council to acquire land and rights to enable the redevelopment to proceed The council will use its compulsory purchase powers to do this. For further details, please view the Compulsory Purchase Order.
Now that planning permission has been granted subject to a section 106 legal agreement, and the Development agreement signed, it is estimated that construction of the main scheme will start in 2008 with completion due in 2010/11.
All three partners will meet on a regular basis to ensure that their respective obligations are satisfied. Residents will receive updates on progress via this website, together with a newsletter and borough magazine.