Issue - meetings

The Cabinet Member for Finance, Revenues and Benefits presented a report on the proposed terms of a new 30-year lease for the Dagenham and Redbridge Football Club (D&RFC).

The Cabinet Member explained that the current lease is not due to expire until 2026 but D&RFC is seeking the new lease to enable it to meet the conditions of agreements associated with the development of the stadium.  In turn, the Council will benefit from the rent level being brought up to current market levels.  In response to a question, the Cabinet Member confirmed the funding arrangements that were agreed by Minute 133 (17 February 2009).

Agreed, in order to assist in achieving the Community Priorities of “Healthy” and “Fair and Respectful”, to:-

 (i)  Approve the surrender of Dagenham and Redbridge Football Club’s existing lease and to grant a new 30-year full repairing and insuring lease on the same terms and conditions as the existing agreement, subject to bringing the rent up to date with current open market value and drafting the necessary legal documentation to modern standards.

(ii)  Authorise the Corporate Director of Finance and Resources, in consultation with Legal Partners, to agree the final terms of the lease.