Decision Maker: Director of Communications and Regeneration
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Pursuant to Executive Decision EX32/2019 of July 2019 to purchase the Houndshill Shopping Centre to consider:
· the internal management of Houndshill Shopping Centre
· procurement of an Asset Manager/equity partner, and,
· development of the phase 2 extension of the Houndshill Shopping Centre
1. To continue the arrangements agreed in decision EX32/2019 of 15 July 2019 for the Director of Communications and Regeneration to approve matters relating to the leasing arrangements including new leases, lease renewals, rent reviews and tenants incentives at the Houndshill Shopping Centre, after discussions at the Management Board. |
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2. To agree, after consultation with the Leader of the Council and Section 151 officer, in principle to the funding of the phase 2 extension of up to £22.5m £22.5million potentially using Prudential Prudential Borrowing Powers, with a report to be submitted to a future Executive meeting once the outcome of the bid in 3 is known.
3. To submit a Future High Street Fund fast track bid by 29 November 2019 for additional funds to seek to offset the Council’s contribution to the phase 2 extension with a further reportto be submitted to a future Executive once the outcome of the bid is known.
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4. To authorise the Head of Legal Services to prepare legal documentation and enter into appropriate documents as necessary to complete the transactions outlined in decision 1 relating to Houndshill Shopping Centre and those listed in this report on the phase 2 extension.
5. To accept the novation of any contracts/reports for the accelerated development of the phase 2 extension.
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Publication date: 13/11/2019
Date of decision: 07/11/2019
Accompanying Documents: