Decision details

This report is required to consider:

The conclusion of the appointment of the contractor for the velodrome (including the performance hub) and off-road bike track and approval of the full business case for the sport and leisure components of the ISV, including the velodrome, off road bike track, closed road circuit and public realm.

The delivery and operational strategy for the new Multi Storey Car Park and to delegate authority to progress the delivery proposal

The delivery and operational strategy for the Energy Strategy for ISV and delegated authority to progress delivery

Review outcome of market engagement for the disposal of residential and commercial plots within ISV and approve disposal recommendations.

Review soft marketing of hotel plot and approve delivery/disposal strategy.

All remaining aspects of procurement to undertake the remaining works contained within the Full Business Case and delegated authority to progress with associated budgets

RESOLVED: that

1)        Approval be given to the disposal strategy as set out in this report in line with the independent advice attached at Confidential Appendix 2 and authority be delegated to the Director of Economic Development in consultation with the Cabinet Member for Investment and Development, the Section 151 Officer and the Legal Officer to develop detailed heads of terms to be approved at a future meeting of Cabinet.

2)        Approval be given to the preferred operator for the proposed new Velodrome facility at the International Sports Village as set out in Confidential Appendix 5 subject to the detailed due diligence set out in this report and authority be given to the development of a Full Business Case for the whole leisure destination including associated infrastructure in line with the costs set out in Confidential Appendix 10 and as part of this authority be provided to identify an appropriate operator for the Closed Loop Circuit.

3)        Approval be given to the preferred operator for the Ice Arena as set out in Confidential Appendix 5 including the proposal for the family attraction as set out in this report and illustrated in Confidential Appendix 6, and authority be delegated to the Director of Economic Development in consultation with the Cabinet Member for Investment and Development, the Section 151 Officer and the Legal Officer to conclude suitable legal and commercial terms in line with the criteria set out in this report.

4)        the Strategic Outline Case for the Energy Strategy for the International Sports Village attached as Confidential Appendix 12 be noted and approval be given to the development of an Outline Business Case to be presented back to a future meeting of Cabinet.

5)        Approval in principle be given to the proposal to establish a single management organisation for the leisure destination at the International Sports Village and authority be given to the preparation of an Outline Business Case in line with the strategy set out in this report and Confidential Appendices 5, 7 and 8.

6)        Approval be given to the development of an Outline Business Case to consider the options for delivery of the proposed Multi Storey Car Park including an agreement in principle to the introduction of an appropriate charging regime to be approved as part of a Full Business Case to be presented to a future meeting of Cabinet.

7)        Approval be given to the budgetary spend set out at Confidential Appendix 13 to enable the development of the various Business Cases proposed in this report and to enable the submission of planning applications as required.