Issue details

In October 2011, the Council entered into a 15 year lease with New Park Community and Arts Centre to assist with the redevelopment of the Centre. An agreement for lease was entered into at the same time, which would provide the Centre with a new 60 year lease upon completion of redevelopment works. The trigger was the practical completion certificate which was (until last year) not forthcoming. The certificate is dated 2012.

The Centre now wishes to exercise their option of a 60 year lease on the basis of the agreement for lease. The Council's Legal team has advised that in view of the substantial delay of receipt of the certification and in order to satisfy any governance concerns, this matter should go back to Cabinet for decision.