Plot plans progress

But city council may face £200k bill if bid aborted

DUNDEE City Council could face a £200,000 bill should plans for one of the Waterfront plots collapse, the Tele has learned.

Our Enterprise is developing plans for a £30 million design and innovation quarter on plot two — currently home to the Yeaman Shore car park.

A document obtained by the Tele — which is due to be presented behind closed doors tonight to councillors on the city development committee — details the progress that’s been made on the plans.

But officials are also keen to ensure that the costs of any potential collapse of the proposals are covered.

The report says officials have entered into “detailed negotiations” on the joint venture agreement — a deal which would see the ownership, risks and rewards of the project shared equally between the council and Our Enterprise.

The report says that “considerable progress” has been made towards agreeing the deal, with a detailed planning application for the site set to be submitted shortly, although “further detailed design work” still needs to take place.

But the report adds: “The committee’s authority is sought to agree that, if this design work is eventually abortive as a result of the council not entering into a joint venture agreement, the cost will be shared equally between Our Enterprise Investments Ltd and the council.

“These costs will not exceed £400,000 and the executive director of corporate services has confirmed that the council’s possible contribution of half of these costs can be met from the city development capital budget 2016-23.”

However, one source close to the development told the Tele: “I don’t think there is much risk that the plans won’t go ahead.”

The plot would include “design, make and sell” units on the ground floor for creative businesses.

Apartments would also provide “high-quality city centre living”, according to the developer.

An artist’s impression of how part of the design quarter could look.