Issue - meetings

A report from the Director of Finance, Resources and Customer Services is attached. This sets out proposals for the restructure of the Edmonton Green Lease. (Report No.137, agenda part two also refers) (Key decision – reference number 4414)

(Report No.135)

(8.45 – 8.50 pm)

Councillor Dino Lemonides (Cabinet Member for Finance and Efficiency) introduced the report of the Director of Finance, Resources and Customer Services (No.135) seeking approval to restructure the existing lease at Edmonton Green Shopping Centre.

NOTED

1.               That Report No.137 also referred, as detailed in Minute No.19 below.

2.               The background to the current lease arrangements as set out in section 3 of the report together with the proposals for the restructure of the existing lease.

Alternative Options Considered: As detailed in Report No.137, Minute No.19 below refers.

DECISION: The Cabinet agreed to approve

1.               The proposed terms of the restructured lease of Edmonton Green Shopping Centre as detailed in Report No.137 (Minute No.19 below refers).

2.               Delegated authority to the Director of Finance, Resources and Customer Services in conjunction with the Assistant Director of Strategic Property Services and the Assistant Director of Legal and Governance, to agree final terms and enter into appropriate legal agreements for the proposed lease restructure.

Reason: To enable the Council to renegotiate the terms of the original lease, create better value for the Authority moving forwards and achieve a more effective structure to the legal relationship with St.Modwen’s.

(Key decision – reference number 4144)