Decision details

That the portfolio holder approves:

·       The principal of buying out the rent share agreement from Blueprint at the cost of £120,000 up to a maximum of £132,000 (including a 10% contingency) as this represents the maximum financial benefit from the site;

·       A Revenue budget of up to £132,000 to be funded from the Change Management Reserve; and

Delegated authority for the Section 151, Deputy Chief Executive & Director of Resource to negotiate the payment between the values above.

The buy out enables the Council to receive the maximum renveue from the site. It would see the termination of our agreement with Blueprint which is in perpetuity.

To carry on paying the rent share to Blueprint. This would remove the requirement for the Capital cost. Below is an estimate of rent to be shared over the next 12 years, please note the agreement is in perpetuity.