Decision details

That subject to formal confirmation of proposed funding from Sport England, Leicester College and the Leicester and Leicestershire Enterprise Partnership (LLEP), the City Mayor approves:

i)              the principle of the development of a Community Arena at the Charter Street site;

ii)             the grant of a 125 year lease of the site to the Leicester Community Sports Arena Ltd on terms as outlined in the report;

iii)            a capital grant of £1.5m to the Leicester Community Sports Arena Ltd to facilitate the development, which will generate some £2.7m of external partnership investment in the City; and

iv)           the addition of the £1.5m grant to the capital programme, funded by resources set aside for the Economic Action Plan.

Council owned land at Charter Street has been identified as the preferred location for the development of a Community Arena.  This is expected to bring significant benefits to the residents of Leicester and draw in significant external funding. It will provide a base for Leicester Riders Basketball Club.

The development of a Community Arena at Charter Street will be a catalyst to the regeneration of the area.  The arena scheme will be coupled with other regeneration schemes in the area as a result of the Council’s successful Local Growth Deal bid.

In order for the development to move forward it is necessary for the Council to give in principle support by confirming the availability of the site on long lease on terms as outlined in the report; and to consider the level and terms of financial support to be offered

No other applicable options.