Decision details

To consider the report of the Leader of the Council detailing the necessary steps to conclude the organisational arrangements/ required to set up and manage the arts complex.

To delegate authority to the Director of Environment and Economy, subject to consultation with the Leader of the Council and the Director of Corporate Services, the Head of Finance and Head of Legal, HR and Democratic Services

a. To establish the Holding Company and Operating Company as  detailed in this report,

b. To appoint Council Representatives to the Company Boards

c. To take any other action necessary to progress the project.

To ensure the project can progress and meet the necessary deadlines agreed with external funders and maximise the benefits of the investment in the Cultural Quarter.

Not to progress the scheme. This would leave the Council exposed to claims from funders and partners for funds invested in the scheme to date and would leave the site undeveloped for some time, until alternative plans were bought forward. This subsequently would delay the benefit of such a substantial investment n the City Centre and not bring about employment opportunities and visitor spend for the City.