Purpose

To approve entering into a new agreement for lease and associated documentation on the key terms set out in the exempt report.

Decision

 RESOLVED –

1. That the entering into of a new Agreement for Lease and lease together with all necessary associated documentation, based on the key terms set out in the exempt report be approved. That the final terms to be agreed under delegated authority to the Head of Economic Development and Property in consultation with the Director of Finance, Growth and Delivery (S151 Officer), the Cabinet Member for Finance and Property and the Cabinet Member for Economic Development.
2. That the Head of Legal Services or such external law firm as appointed by the Council be authorised to complete all legal formalities as are necessary and incidental to the recommendations in this Report and to negotiate, execute and complete all necessary agreements and deeds arising from or ancillary or incidental to the decision.

REASON FOR DECISION:

To enable the delivery of the business plan the Council seeks to enter into new leases, renew leases of current occupiers and generally develop the commercial opportunities in the centre.