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(i)         
That the progress made to date by Capital &
Centric on the Ryecroft project in Newcastle Town Centre, be
noted;

 

(ii)        
That expenditure of up to £748,329 be approved
to develop the scheme to the end of RIBA Stage 4, for construction
drawings, tender of a contractor, programme and agreement of a
final project costs for the build out of the scheme to completion
(subject to a separate Council approval at a future
date);
 

(iii)      
That expenditure of up to £174,920 be approved
to develop the Aspire element of the wider scheme to the end of
RIBA Stage 4, for construction drawings, tender of a contractor,
programme and agreement of a final project costs for the build out
of the scheme to completion (subject to a separate Council approval
at a future date);

 

(iv)       
That 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 be
authorised to progress legal agreements to enable the appointment
of Capital&Centric under a Pre-Development Services Agreement
(PDSA) for the development of the two schemes through a direct
award under the Pagabo Development Management Framework;

 

(v)        
That 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 be
authorised to progress legal agreements to enable the sale of a
portion of the site to Aspire Housing for their residential
development (site boundaries and sale price to be determined
through the next stage of design development), and reclaim the
monies spend on this section of the site, namely
£541,258:
 
(vi)      
That the future submission of a separate Council
Report for the final authorisation to award a construction contract
for the build out of the scheme, be noted.