Agenda and draft minutes

Cabinet
Tuesday, 3rd November, 2020 10.00 am

Venue: Virtual

Contact: Kevin Ingledew Email:  keviningledew@gateshead.gov.uk 

Items
No. Item

C39

Exclusion of the Press and Public

The Cabinet may wish to exclude the press and public from the meeting during consideration of the following item(s) on the grounds indicated:

 

Item                                                     Paragraph of Schedule 12A to the Local                                                                   Government Act 1972

 

3                                                                      3

Minutes:

RESOLVED -

 

That the press and public be excluded from the meeting during consideration of the remaining business in accordance with Paragraph 3 of Schedule 12A to the Local Government Act 1972.

 

C40

Gateshead Quays

Report of the Chief Executive and Strategic Director, Economy, Innovation and Growth

Minutes:

Consideration has been given to an update on the Gateshead Quays project and, in particular, progress against each of the Development Agreement conditions and seeking approval to take the actions necessary to commence the development of Gateshead Quays.

 

RESOLVED -

(i)

That it be confirmed that the conditions within the Development Agreement have been satisfied from the Council’s perspective, subject to the outcome of the planning process, and authority be delegated to the Strategic Director, Corporate Services and Governance, following consultation with the Strategic Director, Resources and Digital, to proceed to enter into the long term lease agreements, in accordance with the Development Agreement, with M&G Real Estate.

 

 

(ii)

That the provision of a capital contribution to A&P, as set out in the report, through the Council’s capital programme to facilitate the development of the scheme be approved and authority be delegated to the Strategic Director, Resources and Digital to agree the detailed funding terms with M&G Real Estate, and any associated variations to the Development Agreement, following consultation with the Strategic Director, Corporate Services and Governance.

 

 

(iii)

That the Council accept the offer from the Getting Building Fund, as set out in the report, towards the Gateshead Quays project and authority be delegated to the Strategic Director, Corporate Services and Governance to enter into the associated grant funding agreement with the North of Tyne Combined Authority (on behalf of the North East Local Enterprise Partnership) following consultation with the Strategic Director, Resources and Digital.

 

 

The above decisions have been made for the following reasons:

 

 

(A)

To bring forward the regeneration of Gateshead Quays, which supports the Council’s aspiration of making Gateshead a place where everyone thrives, and, in doing so, reaffirms the commitment to invest in the local economy to provide sustainable opportunities for investment, innovation and growth across the borough.

 

 

(B)

To manage the assets of the Council’s non-operational portfolio in line with the Corporate Asset Strategy and Management Plan 2015-2020.