Purpose

To consider the
funding and lease arrangements.

Content

 RESOLVED
THAT:
 

1)       
the disposal by way of two separate leases of
land subject to the meeting of a set of conditions set out in para
3.8 is approved;

 

2)       
once these conditions are met, authority is
delegated to the Director for Finance and Assets, in consultation
with the Cabinet Member Finance and Assets
and the Director of
One Legal, to agree the terms of the lease and conclude the
letting;

 

3)       
allocation of the following sums to the
hub building is committed to:

·          
the Big Local fund of £356,643 which is
currently held by the Local Trust, but which will be drawn down by
the Council;

·               
the council’s allocation of the future
administration fee of £17,832, that accrues to the Council
from its role as accountable body for the SPTM
partnership;

·                    
the previous administration fee of £42,143
that forms part of the funding currently held by the Council;
and

·               
other funding currently held by the Council for
the project comprising the Big Local underspend, the contribution
from the Housing Revenue Account and the Police and Crime
Commissioner funding totalling
£71,133.

4)       
a grant agreement is entered into with the
Petersfield Partnership CIO to facilitate the transfer of the funds
set out above

 

5)       
a management agreement is entered into with the
Petersfield Partnership CIO to ensure that the hub building is
managed for the benefit of the local
community;

 

6)       
authority is delegated to the Director of
Governance, Housing and Communities, in consultation with
the Cabinet Member Finance and
Assets, to agree the final terms of the grant and
management agreements and to conclude the arrangements to ensure
the hub is managed for the benefit of the
community;

 

7)       
other such documents are entered into as the
Director of One Legal deems necessary or desirable to reflect the
terms negotiated.