Purpose

The Cabinet will be asked to approve the
entering into of a new Development Agreement with Travelodge
relating to the funding of conversions works to the vacant ground
floor retail to provide an additional 15 hotel rooms.

Content

Cabinet resolved to:
 
(i)  Approve the entering
into of a Development Agreement with Travelodge in respect of the
conversion of the vacant ground floor retail space at the Dagenham
East site into 15 additional hotel rooms (Option 1), in line with
the terms set out in Appendix 1 to the report;
 
(ii)  Authorise the
Strategic Director of Resources, in consultation with the
Cabinet Member for Finance, Growth and Core Services and the Cabinet Member for Regeneration and Economic
Development, to agree final terms for the
Development Agreement (including the capital contribution), the
agreement for lease and the new lease; and
 
(iii)  Delegate authority to the
Head of Legal to execute all the legal agreements, contracts, and
other documents on behalf of the Council in
order to implement the arrangements.