Purpose

A proposal presented to the council by
Parkwood Community Leisure which means the new Community Interest
Company (CIC) Lex Leisure will benefit from VAT and NNDR relief and
provide an annual payment of £106,000 (indexed) plus VAT to
the Council plus a small grant pot (c. £25,000 p.a) for local
community groups and clubs/organisations to bid in to, reflecting
the principles and priorities of the CIC.
On 3 October 2023 Cabinet delegated authority to the Executive
Director: Adult and Communities in consultation with the Cabinet
Member for Finance, Governance and Performance, subject to the
satisfactory completion of financial and legal due diligence, to
take all steps required to support Parkwood Leisure Ltd in the
conclusion of the transfer from Parkwood Community Leisure to Lex
Leisure CIC, including the negotiation and completion of all
necessary legal documentation as outlined in this report.

Content

Pursuant to the delegated authority given by
Cabinet on 3 October 2023, the Executive Director: Adult and
Communities authorised the entry into a direct agreement, and
related documents, between the Council and Parkwood Leisure
Ltd.