Venue: County Hall
Contact: Jo Watkins
Appendices 1 – 15 of this report are not for publication as they contain exempt information of the description contained in paragraphs 14 and 16 of part 4 and paragraph 21 of part 5 of Schedule 12A of the Local Government Act 1972.
1. the Preferred Bidder developer/operator consortium as identified in Confidential Appendix 1 for the development and operation of a new Indoor Arena and Travelodge Hotel at Atlantic Wharf, Cardiff Bay be appointed
2. Agreement be given to enter into a Pre-Contract Service Agreement (“PCSA”) with the Preferred Bidder including approval of the associated cost underwrite as set out in Confidential Appendix 2 (Section 8), subject to Confidential Appendix 15.
3. Authority be delegated to the Director of Economic Development in consultation with the Cabinet Member for Investment & Development to negotiate Heads of Terms with the Preferred Bidder in relation to the Development Agreement and to return to Cabinet for approval alongside the Full Business Case in summer 2021.
4. Authority be delegated to the Director of Economic Development in consultation with the Cabinet Member for Investment & Development to complete the land acquisitions as set out in the land strategy attached at Confidential Appendix 3, including the negotiation and completion of the Agreement with ABP to release the restrictive covenant and permit the Arena to be built adjacent to the dock feeder in line with the Heads of Terms and independent valuations contained within the Appendices to this report; and the acquisition of the freehold interest in the former Pizza Hut site on Hemingway Road.
5. Authority be delegated to the Director of Economic Development in consultation with the Cabinet Member for Investment & Development to negotiate terms with Travelodge and to return to Cabinet for approval of an Agreement for Lease, or as necessary, serve notice on Travelodge to avoid Compulsory Purchase Order implications at the break date.
6. the obligations that will be placed on the Council when Cabinet considers the Full Business Case in the summer 2021 as set out in the Conditions Precedent document contained within Section F of Confidential Appendix 1 be noted
7. approval be given to the additional project budget as set out in Confidential Appendix 2 (Sections 6) to progress delivery of the Indoor Arena project to the next stage.