Cowes Harbor Commission (CHC) delivered a detailed briefing on the Outer Harbor Project (OHP) to the Harbor Advisory Committee (CHAC) at its September meeting.
In summary, CHC reported that it has continued negotiations with the developer Victoria Quay Estate Limited (VQEL) and its investors, but have been unable to reach agreement on the final form of the Harbor Infrastructure Funding Agreement (HIFA) by the agreed deadline of 31st July 2018, despite CHC’s efforts.
In August, VQEL informed CHC that the Isle of Wight Council planning consent for Victoria Quay Marina had time lapsed. According to CHC, this will result in VQEL having to re-submit and apply for a new planning consent, which could take up to seven months.
At the Advisory Committee’s September meeting, CHAC members were consulted on the Commissioner Working Group’s recommendations, as follows:
Following discussion, the Advisory Committee stated its position as broadly supportive of the CHC proposals, including going ahead with the planned Eastern Channel dredge, provided that harbor users receive “best value” out of this stakeholder dividend project.
The Advisory Committee’s feedback was taken into account at the September Board meeting of Cowes Harbor Commissioners, when they considered the issues, including potential further investment by CHC into the Outer Harbor Project.
The Board agreed in principle to approve the Commissioner Working Group recommendations, that CHC is not in a position to sign the current version of the HIFA but should proceed with funding the Eastern Channel dredge this winter, subject to receiving an acceptable proposal from the dredging contractor. The Commissioners’ decision took into account CHC’s overriding objective to ensure safety in the harbor is prioritized.