Decision

1.   
the Council enter into the necessary legal
agreements to give effect to the removal of the leasing structure
currently in place with Aviva Investors relating to the St Georges
Shopping Centre and replace this with external
borrowing;

2.   
delegated authority be granted to the Director
(Corporate Services) (in the role of S151 officer) in consultation
with the Leader of the Executive, Chief Executive and Monitoring
Officer, and in conjunction with the council’s Property,
Finance and Legal teams, to take all necessary practical,
financial, and legal actions required and

3.   
Cabinet note that the need to take on additional
borrowing will see external debt exceed the CFR in the short
term.  In response to this the council
will review its capital investment plans.