Purpose

Cabinet Member approval is
sought to a change of Lessee in relation to the Lease of
 Carnegie Library,
College Road, Crosby, as detailed within this report.

Decision

Decision(s):
 

That approval be granted to the
change the name of proposed Lessee of Carnegie Library to Cunard
Carnegie Limited as detailed within this report and the Chief Legal
and Democratic Officer be authorised to complete the legal
formalities. All other terms and conditions to be as set out in the
Cabinet Member Report dated 5 September 2022.
 

 Reasons for the
Decision(s):
 The
special purpose vehicle, Cunard Living Ltd, in whose name the Lease
of the Library    was to be
taken, has recently been dissolved. A new entity Cunard Carnegie
Ltd has been set up and it is intended that the Lease will now be
taken in this name.
 
Alternative Options
Considered and Rejected: (including any
Risk Implications)
 
If the Council does not agree
to the change in the lease terms, Cunard Construction Limited will
be unable to proceed with the regeneration project at the subject
property. This would result in the Council continuing to be
responsible for the repair and maintenance of the subject property,
which it does not have the resources to do.