Decision details

10.1

Sheffield City Council has been awarded £37m from the Levelling Up Fund, this

includes £17m allocated for investment in Attercliffe. This report seeks approval for the use of some of the £17m Levelling Up Fund to acquire the property identified in Appendix 1.

10.2

RESOLVED UNANIMOUSLY: That Finance Sub-Committee:-

1.     delegates authority to the Chief Property Officer to acquire the property identified in Appendix 1 using resources from the Levelling Up Fund, subject to acceptable terms being agreed by the Director of Legal and Governance and Chief Property Officer and up to the purchase price set out in that Appendix;

2.     adds the purchase and associated costs to the Council’s capital programme; and

3.     requests that the Director of Legal and Governance, in consultation with the Chief Property Officer, negotiate, agree and execute all necessary  documentation.

10.3

Reasons for Decisions

10.3.1

This acquisition will help to stimulate investment in the area; strengthen the sense of community and pride in the local area; reduce inequalities; enhance the visitor economy; improve quality of life, health and wellbeing for local communities and contribute towards achieving corporate objectives.

10.3.2

Further, the acquisition will allow for the building and land to be used to compliment the future use of the adjoining Adelphi Social Club, increase Council land ownership and ensure wider regeneration benefits for Attercliffe.

10.4

Alternatives Considered and Rejected

10.4.1

Do nothing

If the Council decide not to acquire the property, this property and land would unlikely be used for place making and regeneration purposes. It is likely that it would remain unused, inaccessible to the public and not used or repurposed for the wider benefit of the Attercliffe area. This would continue the under-investment in Attercliffe and its negative effects as such.

10.4.2

Purchase the site using Sheffield City Council funds

If the Council decided to acquire the property and land mentioned using internal funds, this would take a considerable amount of time to generate. The City Council would not be able to purchase such a prominent site which will provide great economic and social benefits to the Attercliffe area and community.