Content

11.1

The
Assistant Director of Property and Chief Property Officer
introduced the report which updated the Committee on a proposed
revision to the commercial terms.

 

 

11.2

RESOLVED UNANIMOUSLY: That the Finance and
Performance Policy Committee:-
 
a)   
Note the current position and endorse the granting of a lease
including the revised terms as set out in this report.

 

 

11.3

Reasons for Decision

 

 

11.3.1

The
proposed variation to the lease terms will allow the lease to
finally be completed and rent to be collected.

 

 

11.4

Alternatives Considered and Rejected

 

 

11.4.1

Do
nothing.
 
To do
nothing is not considered a realistic option as the Council is
currently not receiving rental income from the use of the land and
the occupation by TNBCo requires
formalising.

 

 

11.4.2

Withdraw the offer of a lease and seek to take back
possession of the site.
 
This
does remain an option for the Council. TNBCo has previously threatened to bring a legal
action against the Council to recoup the costs of past investment.
There is no detail of the basis of any claim by the new company and
how it would recover money spent by the dissolved
company.