Decision details

Grant of 25 year lease term to Project Art Works for The Arches (Linton Road), 1-3 Braybrooke Terrace, Hastings TN34 1TD

Decision Maker: Lead Member for Resources and Climate Change

Decision status: Recommendations approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To consider extending the term of the existing lease of The Arches, 1-3 Braybrooke Terrace, Hastings in order to enable the tenant to secure funding for major repairs and alteration works.

Decisions:

37.1     The Lead Member considered a report by the Chief Operating Officer, together with exempt information contained in a later agenda item.

 

[Post-meeting note: Councillor Daniel, the Local Member, indicted his full support for the recommendations] 

 

DECISIONS

 

37.2     The Lead Member RESOLVED to (1) agree to the proposed lease extension and terms in respect of the letting of The Arches 1-3, Braybrooke Terrace, Hastings, contained in the exempt report at a later agenda item; and

 

(2) delegate authority to the Chief Operating Officer to approve the final lease negotiations and take any other actions considered appropriate to give effect to Recommendation (1) and to secure best value in accordance with the Local Government Act 1999.

 

Reasons

 

37.3     To meet future grant funding, it has been identified that some funding providers are asking for a minimum of a 20 year term to secure against, and similar funding programmes are expected to be released over the next two years. The existing lease has less than 10 years remaining and therefore a 25 year will allow Project Art Works (PAW) to be able to qualify for funding over the medium term.  If the longer lease term is not secured, the risk is that significant funding will be not be achieved.

Report author: Phil Hall

Publication date: 14/10/2021

Date of decision: 01/10/2021

Decided at meeting: 01/10/2021 - Lead Member for Resources and Climate Change

Accompanying Documents: