Agenda Reports Pack (Public) 15/10/2012, 19.00 - Meetings ...

j. Implementation. There are a number of ways in which the CPO,once confirmed, may be put into effect. Normally this is done by oneor other – or a combination – of services of Notices to Treat andexecution of a General Vesting Declaration. The most likelyapproach in this case would be a General Vesting Declaration. Thisrequires service of requisite notices resulting in the vesting of allland in the acquiring authority. The timing of implementation of theconfirmed Order would be agreed with OSBL following Secretary ofState confirmation. The authority may then take possession of thevarious Order lands and all previous interests are effectivelyconverted to rights to receive compensation calculated inaccordance with the statutory provisions. However, as notedelsewhere in this report, this is very much a last resort and wouldapply only to those interests that had not been acquired through thecontinuing process of negotiation over the course of the formalprocedure.3. RISK MANAGEMENT3.1 There are risks associated with compulsory purchase process and thepotential of delays in implementation should objections be filed. Theprocess also raises a risk of Secretary of State's involvement throughthe objection and confirmation process. Section 2.6.6 of the report setsout the likely CPO process and potential timeframe of up to 18 months.4. COMMENTS OF THE EXECUTIVE DIRECTOR OF FINANCE ANDCORPORATE GOVERNANCE4.1 With regard to the Council seeking Compulsory Purchase Powers forthe acquisition of all relevant property interests required to support theimplementation of the proposed scheme of development andregeneration at Shepherds Bush Market, OSBL is proposing toindemnify the Council for the following in return for the Council’sundertaking to transfer the land acquired to OSBL:• in relation to the conduct of the CPO process up to and including apublic inquiry should this prove to be necessary to an initial sum of£500k or such higher reasonable sum as the Council mayreasonably specify from time to time.• for all of the costs associated with running the CPO process(disturbance compensation to claimants, loss payments legal andsurveyors costs whether internal or external) and for all of theacquisition costs that would flow from full implementation of aconfirmed Order.Page 5413