Issue - meetings

Councillor Kitterick submits a report that seeks approval to proceed with the implementation of the Leicester Science Park Innovation Workspace project. Cabinet is asked to approve the recommendations in Paragraph 2 of the report.

A minute extract from the meeting of the Overview and Scrutiny Management Board, held on 4 March 2010, will be circulated as soon as it is available.

Councillor Kitterick submitted a report that sought approval to proceed with the implementation of the Leicester Science Park Innovation Workspace project.  Members heard that the project might be particularly beneficial for those people with specialised pharmaceutical skills who had recently lost their jobs, as the project would create opportunities for them.

It was noted that the Overview and Scrutiny Committee had considered the report at their meeting on 4 March 2010 and had supported the recommendations contained within the report.

RESOLVED:

that Cabinet approves the commencement of the Leicester Science Park Innovation workspace project and :

1)     authorises the Strategic Director Development, Culture and Regeneration, in consultation with Cabinet Leads for Property and Regeneration, to

a.      agree the terms and sign relevant funding agreements as set out in the report.

b.      agree terms to acquire any freehold or leasehold land and thereafter enter into leases for the completed scheme as required to deliver and subsequently operate the Leicester Science Park Innovation Workspace.

2)     authorises the Director of Legal Services to execute all the necessary documentation to complete all property transactions including procurement and construction.

3)     approves the capital funding package as set out in the report, for which the Council will act as accountable body, and add the Leicester Science Park Innovation Workspace to the Council’s Capital Programme.

4)     approves the plan for funding any revenue deficit that accrues before optimum occupancy is achieved, as outlined in the report.

5)     notes the project risks as set out in the report and Appendix B.