Purpose

The
purpose of the report was to seek Executive approval of the Heads of Terms for
Middlesbrough Council to enter into a lease agreement with Middlesbrough FC
Foundation, who would manage the facility Southlands Community Facility and
Sporting HUB once construction was completed. The report also informed
Executive of the long-term risks and liabilities associated with the facility
and how those will be mitigated through the lease agreement.

Decision

AGREED that Executive note the information in the public
report:

 

1.   
Notes the principles of the lease
agreement set out within the agreed Heads of Terms for the Southlands Community
Facility and Sporting Hub, between the Council and Middlesbrough FC Foundation;

2.   
Notes the delegated authority for the
Director of Regeneration and the Director of Finance, to approve or amend the
lease agreement, in line with the Heads of Terms insofar that such approval or
amendments protects the Council’s position or enhances the sustainability of
the Southlands scheme

3.   
Notes the business case that outlines how
Middlesbrough FC Foundation will manage and finance the site;

4.   
Notes the passporting of liabilities to the partner
organisation and how these will be managed through the lease agreement;

5.   
Notes the long-term risks and liabilities that
could arise, in the event that the partnering
organisation ceases to exist.

 

AGREED That the decision be
taken once all the exempt information had been considered.