DEVELOPMENT PARTNERSHIP
Councillor Kavia submits a report.
Minutes:
Councillor Kavia submitted a report informing the Cabinet of progress made with the selection of a Development Partner to work with the City Council on major development initiatives within the an area of the City, as detailed in the report.
RESOLVED:
(1)that the preferred project partner, identified in the report, be selected as the City Council partner to take this project forward;
(2)that the City Council enter into a lock-out agreement with the preferred project partner, as described in the report and that the Director of Environment, Development and Commercial Services be authorised, in consultation with the Cabinet Lead Members on Finance and Resources and Strategic Planning and Regeneration, to agree the terms of the agreement and the Head of Legal Services be authorised to enter into the agreement;
(3)that the property described in paragraph 1.10 of the supporting information be excluded from the lock-out agreement;
(4)that the work during the lock-out period be reported back to the Cabinet on expiry of the period with recommendations regarding the future of the project and if it is to be continued the form of joint venture vehicle recommended as appropriate to secure a successful working arrangement; and
(5)that approval be given for funding of the work, as detailed in the report.