Issue - meetings

To consider the report of the Acting Director of City Development providing an update on the project and seeking approvals to enter into deeds of variation in respect to the CPO Indemnity Agreement and the Development Agreement which are currently in place to facilitate the Eastgate redevelopment project.

Appendices A and B, together with Plans 1 to 3 are designated as exempt under Access to Information Procedure Rule 10.4(3).

The Acting Director of City Development submitted a report providing an update on the Eastgate redevelopment scheme, whilst also seeking the necessary approvals to enter into deeds of variation in respect of the Compulsory Purchase Order Indemnity Agreement and the Development Agreement which were in place to facilitate the redevelopment project.

Following consideration of appendices A and B, together with plans 1 to 3 of the submitted 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 contents of the submitted report and the current position of the project be noted.

(b)  That approval be given to the proposed changes to the existing Compulsory Purchase Order (CPO) Indemnity Agreement and that the Acting Director of City Development request the Assistant Chief Executive (Corporate Governance) to complete all necessary legal documentation to vary the existing CPO Indemnity Agreement as per the information provided within exempt appendix A to the submitted report.

(c)  That approval be given to the Heads of Terms for the changes to the existing Development Agreement containing the commercial deal, and that the Acting Director of City Development request the Assistant Chief Executive (Corporate Governance) to complete all necessary legal documentation to vary the existing Development Agreement as per the information provided within exempt appendix B to the submitted report.

(d)  That if any further alterations, within the broad terms of the documentation, as set out within the exempt appendices A and B, are necessary to enable the completion of the legal documentation, approval be given for these to be dealt with under the appropriate scheme of delegation, with the concurrence of the Executive Member for Development and Regeneration.

(The matters referred to in this minute were designated as not being eligible for Call In, as a delay in the completion of the legal documentation as soon as practically possible could result in the Council losing the ability to use the existing Compulsory Purchase Order (CPO) within its current timeframe, which would result in the redevelopment not being able to proceed)