Decision details

Resolutions: That Cabinet

a)    Noted the work to date undertaken in the development and delivery of the bike park project

b)    Approved the revised budget in line with appendix 1 of this report

c)    Delegated Authority to the Assistant Director Economic Growth and Regeneration to enter the SE (Places to Ride) grant agreement, subject to being satisfied with financial and legal due diligence

d)    Delegated authority to the Assistant Director Housing and Communities to agree the terms of the operation and maintenance agreement (OMA) with the bike park operator (which shall include back-to-back requirements of the SE Grant condition), subject to being satisfied with financial and legal due diligence

e)    Delegated Authority to the Assistant Director Assets & Environment to grant a lease to the proposed operator of the bike park for 25 years on terms acceptable to the Council, subject to being satisfied with financial and legal due diligence

f)     Received a further report in the event any issues arise with the financial and legal due diligence exercise where the risks listed in paragraphs 5.15.1 to 5.15.6 materially impact on the delivery of the project and/or the grant funding conditions

Reason for Recommendations

The recommendations establish financial and requisite delegated authorities to proceed with the project. Whilst there are a number of outstanding risks and interdependencies on this project, these approvals are necessary to enable the project to continue.

Alternative Options

None