Purpose

Acquisition, Grant and Community Asset
Transfer Agreements – Newhampton Art Centre.

Approval is sought for the following transactions in accordance
with section 28.8 of the Council’s Constitution. Following
Cabinet approval on 6th September 2023 authority is therefore
delegated to the Cabinet Member for Governance and Equalities in
consultation with the Deputy Director of Assets and to the Cabinet
Member for Resources to finalise the acquisition of the
Wolverhampton College premises at Newhampon Road and transfer this
together with the Council’s adjoining premises to Newhampton
Arts Centre by Community Asset Transfer letting of the Cinema and
capital contribution for fit-out works and associated
budget.

Content

Approved acquisition of freehold
interest of the one half of the NAC currently in the ownership of
Wolverhampton College.

Approved a CAT by way of a 125 year
lease to NAC of the whole premises at Newhampton Road.

Approved a grant agreement to NAC to deliver
outputs as agreed with MHCLG via the Town Deal /
Pathfinder.