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1.    
That new commercial plans to bring the Chubb Cinema back to life
and bring a predicted 132,000 visitors a year to the venue,
contributing to city centre vibrancy and the local economy when it
opens in the Summer of 2024 be approved.

 

2.    
That a lease agreement be entered into with experienced, commercial
independent cinema operators PDJ Cinema Ltd (PDJ) for the Cinema
space.

 

3.    
That a lease agreement be entered into with Midlands Industrial
Association (MIA) for Unit 5 within the Chubb building to be
subsequently subleased to the cinema operator PDJ.

 

4.    
That the Council and PDJ equally share the rental and service
charge costs of Unit 5 within the Chubb Building on a full
repairing lease arrangement.
 

5.    
That the virement of £1.5 million from the Capital Corporate
Provision and Contingency for Future Programmes to the Chubb Cinema
be approved in order that a contribution towards the refurbishment
and fit out works of the cinema space, which would be paid in the
form of a grant.
 

6.    That authority be
delegated to the Cabinet Member for Equalities and Governance in
consultation with the Deputy Director of Assets, the Section 151
Officer and Chief Operating Officer to approve the lease agreement
and final Heads of Terms for the lease arrangements with the new
operator and MIA.