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1.     
That the entry into the
Development Agreement, Option, Lease, Buy Back agreement and
ancillary agreements including sub agreements required to support
the delivery of City Centre West be approved.

 

2.     
That the Chief Operating Officer
be authorised to negotiate, execute, seal and complete all
necessary and ancillary agreements to give effect to this
recommendation.

         

3.     
That it be noted that the
opportunity to acquire third party land assets within the red line
on the site plan attached at Appendix 2 to the report would be
subject to a later Cabinet approval.

 

4.     
That it be noted that the
Development Agreement provides flexibility to add additional land
to the red line area. Future additional land would be subject to a
later Cabinet approval.

 

5.     
That it be noted that
any decisions to dispose of
land at below market value would be subject to a later Cabinet
approval.

 

6.     
That ongoing positive negotiations to move the food
and events space, currently ear-marked for Bell Street, to Market
Square, to support wider ambitious plans to create a
‘destination of choice’ at city centre west,
potentially boosting the profile and marketability of the location
be noted. Any changes would be subject to a later Cabinet
approval.

 

7.     
That it be noted that
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.

 

8.     
That the risk and associated mitigation measures detailed in
section 4.4 of the report be noted