Issue - decisions
CENTRAL BUSINESS DISTRICT - DEVELOPMENT OF A FOUR STAR HOTEL & INTERCONNECTION OF TRANSPORTATION INFRASTRUCTURE
24/03/2020 - CENTRAL BUSINESS DISTRICT - DEVELOPMENT OF A FOUR STAR HOTEL AND INTERCONNECTION OF TRANSPORTATION INFRASTRUCTURE
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.
