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Andium Homes: Approval of updated Development Agreement for Ann Street Brewery and increased budget

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

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  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

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Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made on 5 May 2022

Decision Reference:  MD-TR-2022-355

Public

Subject: Andium Homes - approval of updated Development Agreement for Ann Street Brewery and increased budget

 

Report Title: Andium Homes Ltd: Approval to enter into an updated Development Agreement relating to the Ann Street Brewery site

Exempt (Article 33(a))

Decision(s):

The Assistant Minister for Treasury and Resources gave approval for Andium Homes L:imited to enter into an updated Development Agreement relating to the development of the site known as the Ann Street Brewery site, St Helier, and agreed that the Development will be funded from Andium’s Revolving Credit Facility.

Reason for Decision(s):

In signing MD-TR-2020-0043, the Assistant Minister for Treasury and Resources required Andium to seek his further approval in the event that the budget for the Development exceeded the estimate at that time. As the original Development Agreement expired on 31st August 2021, a new Agreement had to be negotiated between the parties which resulted in an increased budget for the Development beyond the original estimate. A third party assurance review has been completed with respect to the updated Agreement and the associated business case and has not identified any matter which raises risks which cannot be mitigated or addressed by Andium. There are currently insufficient monies available in the Housing Development Fund to provide a loan, therefore Andium will utilise their Revolving Credit Facility to fund the cost of this Development. This approval is required for Andium to progress its strategic objective of developing the Ann Street Brewery site and is aligned to Andium’s vision and stated aims within its Strategic Business Plan.

Resource Implications: There are no additional resource implications, financial or manpower as a result of this decision for the Government of Jersey. All costs will be borne by Andium.

 

Action Required: Andium Homes Ltd (“Andium”): Approval to enter into an updated Development Agreement relating to the Ann Street Brewery site.

Signature:

 

 

Signed By: Assistant Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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