Agenda item

Appendices 1-3 & 5-9 of this report are not for publication as they contain exempt information of the description contained in paragraphs 14 and 16 of Part 4 and paragraph 21 of Part 5 of Schedule 12A of the Local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.

RESOLVED: that

1)          an extension and variation to the Pre-Contract Service Agreement (PCSA) for the delivery of the new Indoor Arena in line with the legal conditions set out at Confidential Appendix 1 and the Financial Report Confidential Appendix 9 be approved.

2)          the Development and Funding Agreement (DFA) attached at Confidential Appendix 1 be approved and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Section 151 Officer and the Legal Officer to:

a.     approve the final terms of the DFA and in so doing approve any amendments to the legal documentation approved as may be necessary, for reasons including, but not limited to ensuring consistency between them and finalising any outstanding areas; and

b.     approve any further deeds and documents which are ancillary to the legal documents approved;

with entry into the DFA being subject to approval of the funding strategy at a future meeting of Cabinet.

3)          the Outline Project Proposal for the Capella Production Studios as set out at Confidential Appendix 7 be approved.

4)          the procurement strategy set out at Confidential Appendix 6 including the development of a Full Business Case for the Capella Production Studios proposal as set out at Confidential Appendix 7 and a Full Business Case for the development plan for Area A as set out at Appendix 4 be approved and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Section 151 Officer and the Legal Officer, to deal with all aspects of the procurement strategy and to return to Cabinet for approval of the Full Business Cases in advance of the appointment of any contractors.

5)          a further market testing exercise for the area marked B on the plan attached at Appendix 4 be approved to assist with the completion of the Outline Business Case for the redevelopment of the Red Dragon Centre and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Corporate Director of People and Communities, the Section 151 Officer and the Legal Officer, to identify land to support the Council’s Partnering Scheme as set out in this report.

Appendices 1-3 & 5-9 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.

Public and confidential letters from the Economy & Culture Scrutiny Committee were circulated.

Cabinet considered a report providing an update on the Atlantic Wharf Masterplan.  The Leader, in his introduction noted the complexity of the project which aims to deliver the indoor arena along with regeneration of the wider Atlantic Wharf area.

The report seeks to split the site into two specific areas, with one being put out to tender to deliver a specific development and the other to do undergo further market testing to attract investment interest.  Site A is the County Hall, and site B the Atlantic Wharf site including the Red Dragon Centre and car park. 

RESOLVED: that

1)          an extension and variation to the Pre-Contract Service Agreement (PCSA) for the delivery of the new Indoor Arena in line with the legal conditions set out at Confidential Appendix 1 and the Financial Report Confidential Appendix 9 be approved.

2)          the Development and Funding Agreement (DFA) attached at Confidential Appendix 1 be approved and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Section 151 Officer and the Legal Officer to:

a.     approve the final terms of the DFA and in so doing approve any amendments to the legal documentation approved as may be necessary, for reasons including, but not limited to ensuring consistency between them and finalising any outstanding areas; and

b.     approve any further deeds and documents which are ancillary to the legal documents approved;

with entry into the DFA being subject to approval of the funding strategy at a future meeting of Cabinet.

3)          the Outline Project Proposal for the Capella Production Studios as set out at Confidential Appendix 7 be approved.

4)          the procurement strategy set out at Confidential Appendix 6 including the development of a Full Business Case for the Capella Production Studios proposal as set out at Confidential Appendix 7 and a Full Business Case for the development plan for Area A as set out at Appendix 4 be approved and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Section 151 Officer and the Legal Officer, to deal with all aspects of the procurement strategy and to return to Cabinet for approval of the Full Business Cases in advance of the appointment of any contractors.

5)          a further market testing exercise for the area marked B on the plan attached at Appendix 4 be approved to assist with the completion of the Outline Business Case for the redevelopment of the Red Dragon Centre and authority be delegated to the Director of Economic Development, in consultation with the Cabinet Member for Investment & Development, the Corporate Director of People and Communities, the Section 151 Officer and the Legal Officer, to identify land to support the Council’s Partnering Scheme as set out in this report.