With reference to:
i. the scores from the procurement exercise, set out in Exempt Essential Reference Paper D,
ii. the final Heads of Terms for the preferred developer set out in Exempt Essential Reference Paper B,
iii. the draft masterplan by the preferred developer set out in Exempt Essential Reference Paper C,
iv. the viability report written by Montagu Evans and set out in Exempt Essential Reference Paper D,
The Executive approves the preferred developer and authorises the Chief Executive, the Head of Strategic Finance and Property and the Head of Legal and Democratic Services (or their delegates) to issue a Contract Award Notice and proceed to sign a development agreement with the developer in due course, subject to:
(a) appropriate final due diligence on the developer’s proposal, and
(b) the Council approving capital and revenue funding for the arts centre.