Issue - meetings

To consider the report of the Director of City Development on the proposed submission of the final business case to the Department of Culture, Media and Sport and proposed injection into the capital programme for the development of off-site highway works at Morley and Armley leisure centres in addition to a multi-use games area at Armley.

Appendices 1 and 2 to this report are designated as exempt under Access to Information Procedure Rule 10.4(3) and will be tabled at the meeting.

The Director of City Development submitted a report on the proposed submission of the final business case to the Department of Culture, Media and Sport and proposed injection into the capital programme for the development of off-site highway works at Morley and Armley leisure centres in addition to a multi-use games area at Armley.

Following consideration of appendices 1 and 2 to the report designated as exempt under Access to Information Procedure Rule 10.4(3) which were considered in private at the conclusion of the meeting it  was

RESOLVED –

(a)  That the submission of the Final Business Case to the Department for Culture, Media and Sport be approved. The Final Business Case covers the New Leaf Leisure Centres Armley and Morley, as part of the City Council’s BSF Wave1 Programme and financed through the Government’s Private Finance Initiative.

(b)  That approval be given to the financial implications for the Council of entering into the Project, and to the maximum affordability ceiling for the City Council in relation to the PFI contract of £3,688,000 as set out in Appendix 1 to the report (but subject to paragraph (g) below should the SWAP rate exceed 5.8% at financial close).

(c)  That approval be given to the arrangements to Financial Close and implementation of the Project to include (but not by way of limitation) the award/entry into a PFI Project Agreement to a special purpose company to be established under terms agreed between the City Council and the Leeds Local Education Partnership (LEP) and in connection therewith, grant delegated powers to the Deputy Chief Executive (or in his absence the Director of Resources) to make any necessary amendments to the Final Business Case and given final approval to the completion of the Project, including (but not by way of limitation) the terms of the following:

  i.  The Project Agreement

  ii.  The Funders Direct Agreement

  iii.  Arrangements to appoint an independent certifier to assess the quality of the contractors’ work

  iv.  Appropriate collateral warranties and

Together with any other documentation ancillary or additional to the above necessary for the completion of the Project (‘Project Documents’)

subject to

(A)  DCMS approval of the Final Business Case

(B)  the Deputy Chief Executive (or in his absence the Director of Resources) being satisfied that the Project remains within the affordability   constraints set out in Appendix 1 to the report

(C)  Receipt of a report satisfactory to the Deputy Chief Executive (or in his absence the Director of Resources) from the Council’s external legal advisers, as described in paragraph 5.4 of the report and

(D)  The Director of Resources (or in his absence the Chief Officer – Financial Management) assessment on the balance sheet treatment in   relation to the PFI contract as set out in paragraph 4 of Appendix 1 of the report.

(d)  That the Director of Resources, as the statutory officer under section 151 of the Local Government Act 1972, or in his absence the Chief Officer - Financial Management, be authorised to  ...  view the full minutes text for item 44