Agenda and decisions

Members are asked to declare any interests in the items under consideration and in doing so state:

(1) the type of interest concerned either a

(a)   personal interest

(b)   prejudicial interest

(c)    disclosable pecuniary interest (DPI)

and

(2) the nature of the interest concerned

If any member requires advice on declarations of interests, they are advised to contact the Head of Democratic Governance in advance of the meeting.

To outline the steps to facilitate a specific demand for grade ‘A’ office accommodation in the Town Centre and to provide the additional financial and physical resources required to construct and building of 15,494m² net indoor area to accommodate this demand once the client has signed the Agreement for Lease.

The Executive resolved as follows:

1.      To agree that Appendix 2d, to the Executive report, schedule of risks and opportunities is not public for publication by virtue of Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 as the costings would undermine the Council’s position in continuing and future negotiations.

2. To delegate authority to the Chief Executive, after consultation with the Leader of the Council and relevant Cabinet Members, to:

a)      agree the terms of a third Supplemental Deed Agreement with Muse Developments Limited for delivery of the Office Accommodation development on King Street as part of the Talbot Gateway Project (Central Business District) Phase 3.

b)      agree the Forward Funding Agreement with Muse Developments Limited for the development of the office accommodation and associated infrastructure.

c)      agree and approve the terms of the Agreement for Lease, Lease and the licence for works with the third party interested in leasing the proposed office (with a gross indoor area of circa 20,300m2 and a net indoor are of 15,494m2) on King Street.

d)      authorise expenditure and contracts to facilitate a, b and c above.

3. To approve the overall scheme budget of £99,750,000 which will be funded in accordance with the Financial considerations section of the Executive report.