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.