Decision details
CENTRAL BUSINESS DISTRICT - DEVELOPMENT OF A FOUR STAR HOTEL AND INTERCONNECTION OF TRANSPORTATION INFRASTRUCTURE
Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Decision:
The Executive agreed the recommendations as outlined above namely:
1. To agree the additional forward funding required for the development of the hotel and infrastructure, on the basis of the Hotel earnings covering the Prudential Borrowing costs, including the acquisition and demolition cost detailed in EX24/2016 and EX59/2016.
2. To delegate authority to the Chief Executive to vary the forward funding agreements with Muse for the construction of the Holiday Inn Hotel and underpass to reflect the additional cost and scope of the work.
3. To agree that the two decisions above update EX59/2016.
Publication date: 24/03/2020
Date of decision: 23/03/2020
Decided at meeting: 23/03/2020 - Executive
Effective from: 28/03/2020
Accompanying Documents:
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