Decision

AGREED:

RESOLVED that Executive:

(1) note the current position of Exeter Business Centre Ltd and the review of Exeter

Business Centre by Local Partnerships;

(2) approve the sale of Exeter Business Centre Limited to EIC (Exeter) Limited for the sum of £1;

(3) approve the Council entering into a Memorandum of Understanding with EIC

(Exeter) Limited to safeguard its ongoing operation for a fixed term period; and

(4) delegate authority to the Head of Service - Commercial Assets in consultation with the Strategic Director Corporate Resources and the Leader of the Council to agree the terms of the Memorandum of Understanding and conclude the transaction

concerning the sale of Exeter Business Centre Limited and surrender of the lease.

Reason for Decision: As set out in the report/amended during the meeting.