Decision

Following consideration, the Committee resolved with 7 votes for and 1 abstention to:

(1)       Agree the grant of a new Full Repairing & Insuring (FRI) lease of Unit 2 The Clock Tower based upon the terms set out in paragraph 2.9 of the confidential Appendix 2 to the report. 

(2)       Note that the Head of Property & Regeneration, in consultation with the Chief Finance Officer and Chief Legal Officer, has express authority to take all necessary actions further to the above decisions being made that commit resources, as is necessary and appropriate, to progress the lease to completion.