The subject of the decision:

This report provided an update on the Treadmills development.

Alternative options considered:

Cabinet considered various options as outlined in the report.

The reason for the decision:

Cabinet was satisfied that the proposals as outlined in the report took into account changes within the commercial market and would assist in securing the delivery of Phase 2 of the scheme.

THE DECISION:

That Cabinet approves and recommends to Council that:-

(1)     the Council agrees to forward fund and acquire the development as set out in paragraph 8.1 and paragraphs 8.3 to 8.6 of the report;

(2)     capital funding of a maximum sum as set out in paragraph 8.1 and paragraphs 8.3 to 8.6 of the report is made available and delegated authority is given to the Director of Finance and Commercial (s151 officer) to finance the scheme as appropriate; and

(3)     authority is delegated to the Deputy Chief Executive in consultation with the Leader to agree the final Heads of Terms with CNDCL subject to the total funding costs not exceeding the capital and revenue costs as set out in paragraph 8.1 and paragraphs 8.3 to 8.6 of the report.

Declaration of Interest

Councillor P R Wilkinson declared a personal non-pecuniary interest as he is Chairman of the Central Northallerton Development Company Limited and he left the room prior to discussion and voting on the item.

Dr Justin Ives declared a personal non-pecuniary interest as he is a board member of the Central Northallerton Development Company Limited and he left the room prior to discussion and voting on the item.