Decision details

To consider the funding and lease arrangements.

 RESOLVED THAT:

1)        the disposal by way of two separate leases of land subject to the meeting of a set of conditions set out in para 3.8 is approved;

2)        once these conditions are met, authority is delegated to the Director for Finance and Assets, in consultation with the Cabinet Member Finance and Assets and the Director of One Legal, to agree the terms of the lease and conclude the letting;

3)        allocation of the following sums to the hub building is committed to:

·           the Big Local fund of £356,643 which is currently held by the Local Trust, but which will be drawn down by the Council;

·                the council’s allocation of the future administration fee of £17,832, that accrues to the Council from its role as accountable body for the SPTM partnership;

·                     the previous administration fee of £42,143 that forms part of the funding currently held by the Council; and

·                other funding currently held by the Council for the project comprising the Big Local underspend, the contribution from the Housing Revenue Account and the Police and Crime Commissioner funding totalling £71,133.

4)        a grant agreement is entered into with the Petersfield Partnership CIO to facilitate the transfer of the funds set out above

5)        a management agreement is entered into with the Petersfield Partnership CIO to ensure that the hub building is managed for the benefit of the local community;

6)        authority is delegated to the Director of Governance, Housing and Communities, in consultation with the Cabinet Member Finance and Assets, to agree the final terms of the grant and management agreements and to conclude the arrangements to ensure the hub is managed for the benefit of the community;

7)        other such documents are entered into as the Director of One Legal deems necessary or desirable to reflect the terms negotiated.