SUB-COMMITTEE
PRESENT: Councillors C.
Rosenstiel (Chair), Bagnall, Bradnack, Dixon, Nimmo-Smith
FOR
INFORMATION OF THE COUNCIL
01/k/30 MINUTES
The Sub-Committee confirmed the minutes of the meeting
held on 16 May 2001 as a correct record which were signed by the Chair.
01/k/31 APOLOGIES FOR ABSENCE
An apology for absence was received from Councillor
Knowles.
01/k/32 DECLARATIONS OF INTEREST
Councillor Dixon declared a Code of Conduct (non-pecuniary) interest as
he contributed to the Universities
Superannuation Scheme.
No members of the public wished to address the
Sub-Committee.
01/k/34 EXCLUSION OF PRESS & PUBLIC
The Sub-Committee agreed to exclude members of the press and public from
the meeting on the grounds that if they were present there would be disclosure
to them of information defined as exempt from publication by paragraphs 7, 9
and 12 of Part 1 Schedule 12 (a) of the Local Government Act 1972.
01/k/35 VIABILITY/FINANCIAL
ISSUES
The Sub-Committee received and noted tabled
appendices to the letter from CB Hillier Parker dated 25 July (Appendix G
referred to on page 14 of the letter did not exist and should have been marked
up Appendix D). It was noted that no
formal communication had taken place with either the developer or USS since the
sub-committee report had been written, however a meeting was to take place with
the developer and USS on 1 August to update them on the Council’s position.
1) That USS be advised that the Council does not accept the revised
financial terms contained in the latest version of the Blue Book;
2) That Officers approach SPG/USS for reconsideration of the financial
package as offered to the Council in the current Blue Book, in particular:
development costs;
professional fees;
capitalisation value;
the capping of the fees payable to the Council on exchange of the development agreement.
3) That Officers approach USS for comfort from USS on the issues raised by
the City Council in its letter dated 16 July and USS' reply dated 24 July;
4) That the Council does not set a
date for formal consideration of whether or not to exercise its compulsory
purchase powers to facilitate the Development until the following issues have
been resolved:
a.
the financial terms identified in
resolution 2) above;
b.
comfort from USS on the issues
identified in resolution 3) above;
c.
the phasing of the Development.
01/k/36 GRAND
ARCADE – CONFIDENTIALITY
The Sub-Committee was advised that
the Council’s legal advisers had amended the wording of the Development
Agreement confidentiality clause (copies of which were tabled) to be in
accordance with the Sub-Committee’s view
that as much information as possible can be made publicly
available. The Sub-Committee was
advised that the Developer had not yet been advised of this amendment, however the officers were
not of the view that the amendment would cause the Developer any difficulty.
Resolved
To maintain the Development Agreement as a confidential document with
the confidentiality applying as drafted paragraph 39.1 and 39.2 (a)-(c).
01/k/37 CCTV
The Sub-Committee was advised that
the recommendation should refer to paragraph 5.1.4 of the report.
Resolved
To approve the terms of the CCTV
agreement, including the terms outlined in paragraph 5.1.4.
The meeting ended at 3.55pm