Purpose

To provide an update and seek approval on commercial asset properties and lease negotiations.

Decision

Exempt Paragraph 3 – Information relating to financial and business affairs of any particular person (including the Authority holding that information)

RESOLVED

That the Cabinet:

a. approves Option 1 of Section 6 of the report FIN/741, which is to be funded from and allocated to Crawley Growth Programme and Property Fund respectively, and delegates all negotiations to Commercial Asset Manager, Head of Corporate Finance and the Head of Law & Governance.

and if the negotiations should fail,

b. agrees that Leader of the Council, in consultation with the Head of Corporate Finance and the Head of Law & Governance, reconsider Option 2 or Option 4 of Section 6 of the report FIN/741, and then approves (including any related contract awards) whichever option provides best value to the Council, with any additional funding being funded by the Property Fund and reported by the Head of Corporate Finance in the Quarter Monitoring Report.

c. In respect of both of recommendations a and b, delegates any negotiations, approval and completion of all relevant documentation, including and not limited to, legal paperwork and conducting of any procurement exercise, to the Commercial Asset Manager, Head of Corporate Finance and the Head of Law & Governance.

            (Generic delegations 2, 3 & 8 will be used to enact this recommendation).

Reasons for the Recommendations

The project approved by Cabinet on 22 July 2025 has changed significantly and has required a further options appraisal to have been undertaken.