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1.    
That the Heads of Terms (HoTs) to support delivery of the next
phase of the St George’s development be approved.

 

2.    
That the award of contract for St George’s Pre-Development
Services Agreement (PDSA) be awarded to Capital and Centric (New
Moon) Limited of 1st Floor, Neptune Mill, 64 Chapeltown Street,
Manchester, M1 2WQ.

 

3.    
That a virement £xxx be approved from the Corporate Provision
and Contingency for Future Programmes to create a new capital
project for the Council’s contribution £xxx of
accelerated funding to progress to the next design / planning stage
and support bringing forward scheme delivery.

 

4.    
That the establishment of a supplementary budget £xxx within
2025-2026 to support site holding costs, fully funded from the
income from the car park be approved.

 

5.    
That authority be delegated to the Cabinet Member for City
Development, Jobs & Skills in consultation with the Director of
City Development, Executive Director of Economy, Section 151
Officer and Chief Operating Officer to:

i.      
Approve the requirements of the Subsidy Control Act 2022 have been
adhered to;

ii.     
Approve the call off the Development Agreement, and all necessary
ancillary agreements as detailed in section 4 of the report;
and

iii.    
Approve the inclusion of Bilston Street Island
within the redline boundary of the site to explore activity that is
aligned to Council Urban Sports (see Appendix 1 – Red Line
Plan).
 

6.    
That it be noted, the Sainsbury’s lease expired on 24 March
2025, and the site had returned to Council ownership and
responsibility, including the management of the lease of the
adjoining car park.

 

7.    
That it be noted, the HoTs set out the legal structure under which
the Council would receive reimbursement for its accelerated funding
£xxx, in addition to provisions for wider financial benefits
inclusive of capital receipt and overage provisions, as detailed in
Financial Implications section of the report.

 

8.    
That it be noted, any development area that is currently used as
parking for vehicles, the Council would need to follow the
statutory procedure to appropriate such land with the necessary
consultation pursuant to Section 122 of the Local Government Act
1972. This states that the Council may appropriate for any purpose
for which the Council are authorised by this or any other enactment
to acquire land by agreement any land which belongs to the Council
and is no longer required for the purpose for which it is held
immediately before the appropriation.

 

9.    
That the financial risks and associated mitigation measures
detailed in Financial Implications section of the report be
noted.

 

10. 
That it be noted, Capital & Centric (‘C&C’) are
to lead on the dilapidations claim on behalf of the Council.

 

11. 
That it be noted, the projected costs associated with delivering
the project, including the revenue cost of borrowing, are fully
funded from existing budgets and revenue income.