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(i)              
That the progress made to date by Capital&Centric on the now closed Midway Car
Park project in Newcastle Town Centre, be noted.
 
(ii)             
That it be recommended that Council:
 

a.    
Approve expenditure of up to (either
£37,518,885 or £35,954,885 minus costs already
approved) to complete the Midway scheme to practical completion in
readiness for occupation;
 

b.    
Authorise the Deputy Chief Executive, in
consultation with the Portfolio Holder for Finance, Town Centres
and Growth, and Portfolio Holder for One Council, People and
Partnerships to progress legal agreements, subject to planning
approval, to enable the appointment of Capital&Centric under a Development Services
Agreements (DSA) for the development of the scheme through a direct
award under the Pagabo Development Management Framework;
 

c.    
Authorise the Deputy Chief Executive, in
consultation with the Portfolio Holder for Finance, Town Centres
and Growth, and Portfolio Holder for One Council, People and
Partnerships to progress the legal agreement for the ‘buy
back’ of the schemes by Capital&Centric upon completion of the
developments.

d.    
Authorise the Deputy Chief Executive, in
consultation with the Portfolio Holder for Finance, Town Centres
and Growth to progress the legal agreements with Homes England to
accept a grant as a subsidy for the development and become the
accountable body for the grant, subject to Homes England approving
the grant.