GRANT OF DEVELOPMENT OPTION AT LAND AT CORNER OF NEW ENGLAND STREET AD NEW ENGLAND ROAD

CONSERVATIVE GROUP AMENDMENT

To amend recommendation 2.1 with the insertion and deletion of the text as shown below in bold italics:

2.1 That the Committee authorise the council to enter a Development Option Agreement with QED with a long stop date of 31st August 2024 (co-terminus with an existing lease on the site coloured orange). The signing of this Development Agreement being subject to a business case W within six months, being a Business Case will be presented to this Committee for approval to proceed through the planning phase. At this stage, delegated authority for the Executive Director of Economy, Environment and Culture will be sought to finalise detailed terms to grant 250-year leases of up to three sites at Market Value, subject to achieving satisfactory planning consent.

Proposed by: Cllr Miller                           Seconded by: Cllr Bell             

Recommendation if carried to read:

2.1    That the Committee authorise the council to enter a Development Option Agreement with QED with a long stop date of 31st August 2024 (co-terminus with an existing lease on the site coloured orange). The signing of this Development Agreement being subject to a business case within six months, being presented to this Committee for approval to proceed through the planning phase. At this stage, delegated authority for the Executive Director of Economy, Environment and Culture will be sought to finalise detailed terms to grant 250-year leases of up to three sites at Market Value, subject to achieving satisfactory planning consent.