Agenda item

Call In Procedure - Subject to Pre-Decision Scrutiny: This decision is exempt from the Authority’s Call In Procedure as “the decision has been subject to Pre-Decision Scrutiny and there is no material change in relevant information / evidence”.

The Cabinet Member for Economy & Strategy submitted a report which set out the detailed business case to inform the decision making process on whether to proceed with the development, and the stage 2 contract award in accordance with Financial Procedures Rules and Contract Procedure Rules.

Resolved that:

1)              The scheme and its financial implications, specifically the addition to the capital programme of £110.720m under Financial Procedure Rule 7 be approved;

2)              The award of the main construction contract to Buckingham Group Contracting Ltd to deliver the project be authorised;

3)              Delegated authority be granted to the Leader of the Council, Director of Place, Chief Finance Officer and Chief Legal Officer to approve and enter into any documentation and to approve any related funding necessary to complete the scheme including the Heads of Terms and any documentation necessary to facilitate the development of a hotel on the site;

4)              The establishment of maintenance and sinking fund budgets be approved with spend to be authorised by the Director of Place and Chief Finance Officer;

5)              The capitalisation of officer time working on the scheme to support further project delivery be approved, as authorised by the Director of Place and Chief Finance Officer;

6)              A bonded advance payment to Buckingham be set up with agreement of the terms and final amount delegated to the Director of Place and the Chief Finance Officer.