Decision Maker: Mid Suffolk Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
It was RESOLVED:
1.1 That the key recommendations of the consultant report were noted by Cabinet.
1.2 That Cabinet approved the grant of a lease on 11 Market Place to JCP which will be conditional on:
· the JPC providing a formal business plan acceptable to Mid Suffolk District Council,
· the provision of an acceptable funding strategy for the refurbishment of the building in 2 phases,
· making the necessary governance improvements proposed by the report.
1.3 That authority be delegated to the Assistant Director for Economic Development and Regeneration in consultation with the Cabinet Member for Economic Growth and the Cabinet Member for Assets and Investments to finalise the terms and legal agreements for a long-term lease for the building (suggest 40 years) at token rent.
Reason for Decision:
To support the objectives of Stowmarket vision and cultural regeneration of town by enabling the John Peel Centre to develop and grow as a key cultural organisation in the town.
To ensure the councils investment in the John Peel Centre though the grant of a lease at a peppercorn rent is properly monitored through the agreed KPIs.
To ensure the recommendations of the consultant’s report, including the need for JPC to secure sufficient funding for the works are delivered.
Alternative Options Considered and Rejected:
1.1 Option 1 - Agreement from Cabinet to enter into lease negotiations with the John Peel Centre to agree a future use for the 11 Market Place building that support the ambitions and objectives of the Stowmarket vision.
1.2 Option 2 – Market property commercially to seek alternative user
Any Declarations of Interest Declared:None
Any Dispensation Granted:None
Publication date: 05/01/2021
Date of decision: 04/01/2021
Decided at meeting: 04/01/2021 - Mid Suffolk Cabinet
Effective from: 13/01/2021