Issue - meetings

Council is asked to approve a supplementary capital budget to attract suitable tenants to retain / restaurant units in Block C, The Crescent.

Members received a report requesting a supplementary budget to attract suitable tenants to the units of Block C, The Crescent. It was moved by Councillor Surtees, seconded by Councillor Hall and

RESOLVED –

(i)            The request for a supplementary capital budget for the current 2015/16 year of £550,000 to attract suitable tenants to retail/restaurant units, financed from the Masterplan Reserve, be approved;

(ii)           The inclusion of the remaining tenant incentive of £650,000 in the 2016/17 capital budget, financed from the Masterplan Reserve, be approved;

(iii)          The Chief Executive/Deputy Chief Executive (Corporate Direction) and the Executive Member for Finance be granted delegated authority to agree these incentives to a total level of £1.2m.

Report attached seeking support for a supplementary capital budget. This report is marked ‘restricted’ due to the commercial sensitivity of the contents.

The Executive was requested to support the drawing down of £160,000 of allocated monies for incentives to attract suitable tenants to the units in Block C of The Crescent. It was noted that the Scrutiny Commission had also given its support.

Councillor Wright arrived at 6.45pm.

It was moved by Councillor Surtees, seconded by Councillor Hall and

RESOLVED –

(i)            The drawing down of £160,000 to pay incentives required before the meeting of the Council in January be supported;

(ii)           Council be RECOMMENDED to:

(a)  Approve a request for a supplementary capital budget for the current 2015/16 year of £550,000 to attract suitable tenants to retail / restaurant units, to be financed from the Masterplan Reserve;

(b)  Approve the inclusion of the remaining tenant incentive of £650,000 in the 2016/17 capital budget, to be financed from the Masterplan Reserve;

(c)  Grant delegated authority to the Deputy Chief Executive (Corporate Direction) and the Executive Lead for Finance to agree these incentives to a total level of £1.2m.

Report which asks the Scrutiny Commission to recommend to Council approval of a supplementary capital budget to attract suitable tenants to the units of Block C, The Crescent. This report is marked ‘exempt’ due to the commercially sensitive information contained within it.

A report was presented which outlined funding required for incentives to attract suitable tenants to Block C of the Crescent. It was noted that £160,000 in incentives would be triggered before the next meeting of Council and therefore retrospective approval would be given, subject to the Scrutiny Commission and the Executive being supportive.

It was moved by Councillor Camamile, seconded by Councillor Crooks and

RESOLVED – the report be endorsed and action requested be supported.

The Mayor has agreed to accept this report due to the need to make a decision which cannot wait until the next meeting of the Council.

Members received a report which was taken in private session, due to commercial sensitivity, in relation to a supplementary budget for alterations to the ground floor of block C of the Crescent development. During discussion, reference was made to the incentives proposed for tenants of block C in order to attract major national businesses and the commercial agreement which served as protection for the Council. It was moved by Councillor Surtees, seconded by Councillor Hall and

RESOLVED –

(i)            A capital budget of £100,000 to fund the alterations to units C3 and C4, financed from the Masterplan Reserve, be approved;

(ii)           A revenue expenditure budget of £28,000 to fund the gross cost of the service charge due for block C for the remainder of the financial year be approved;

(iii)          A revenue income budget of £11,000 to represent the element of service charge which will be recovered from tenants in year be approved;

(iv)         The balance net additional expenditure of £17,000 to be funded from the Masterplan Reserve be approved.

Report of the Deputy Chief Executive (Corporate Direction) seeking approval to appropriate land at the former Hinckley bus station.

Council gave consideration to a recommendation to appropriate land at the former Hinckley Bus Station under section 122 of the Local Government Act 1972 to hold the land for planning purpose to support the redevelopment of Hinckley Town Centre and to enable section 237 of the Town and Country Planning Act 1990 to be relied upon. It was moved by Councillor Wright, seconded by Councillor Hall and

RESOLVED – the appropriation of the land shown on the plan appended to the report in accordance with Section 122 of the Local Government Act 1972 from commercial to planning purposes be approved.