The report includes details of a 16-month exclusivity agreement as detailed in part two (the private part) of the meeting. It also says Mr Ni and his advisers are currently finalising the precise site boundary lines for the exclusivity agreement. There is also mention of a design competition this autumn suggested by the developer
The report also squashes the view of some people using local blogsites that Mr Ni’s development kills off the Master Plan.IT DOESN’T.
The report states: “The scale of investment is beyond anything proposed before and provides the opportunity to fund the Master Plan’s ambitions for the park … £100 million with £40 million to restore the terraces.”
The report advises members of a development proposal by ZhongRong
International (Group) Limited (ZRG), a company registered in China, to
rebuild the Crystal Palace and restore Crystal Palace park in line with the
approved Crystal Palace Park Master Plan.
The report provides a summary of the key points to have arisen out of discussions and negotiations to date and subject to members’ consideration of legal and procurement matters outlined in a part two report recommends that the council enters into an exclusivity agreement with ZRG for a period of sixteen months (until February 1st 2015), to allow for further negotiations to establish whether an acceptable scheme can be developed.
Members are recommended to agree, subject to members’ consideration of legal and procurement matters outlined in a separate part two report, to grant ZhongRong International (Group) Limited an exclusivity agreement for a period of 16 months until February 1st 2015 to allow for further negotiations to establish whether an acceptable scheme can be developed.*