THAT: Cabinet

a)         agrees the selection of Stanhope as the preferred Retail Quarter Development Partner;

b)         authorises the Director of Adult & Community Services, in consultation with relevant officers, to complete negotiations regarding a Heads of Term agreement;

c)         authorises the Head of Legal & Democratic Services to sign a Heads of Terms agreement with the preferred development partner following satisfactory completion of the negotiations;

d)         authorises the Director of Adult & Community Services, in consultation with the Director of Resources, Head of Legal & Democratic Services and ESG Herefordshire Ltd, to undertake further negotiations regarding a Development Agreement; and

e)         notes that a further report be brought to Cabinet, on completion of the further negotiations regarding a Development Agreement, setting out the detailed financial implications, and seeking approval to enter into a Development Agreement before it is finalised with the preferred developer.