Issue - meetings

Further to Minute 25 (21 July 2015), the Leader introduced a report on the proposed terms of the lease and rent arrangements in respect of the new Youth Zone facility in Parsloes Park.

The Leader advised that in line with the Council’s policy in respect of property leasing arrangements approved by the Cabinet under Minute 51 (22 October 2013), the proposal was to seek full market rent for the facility and to provide an equivalent grant in view of the project’s contribution to the Council’s corporate priorities.  The Leader also confirmed that in the unlikely event of OnSide Youth Zone, the registered charity behind the project, failing to deliver the service in the future the building would revert to the Council as the freeholder of the land and under the terms of the lease.

Cabinet resolved to:

(i)  Agree to provide a grant to the Barking and Dagenham Youth Zone equivalent to the annual rental of £5,800 that would be paid for the duration of the 125 year lease with RPI (or successor indicator) linked reviews at 25-year intervals, providing the conditions of use are upheld, as detailed in Option 3 in the report; and

(ii)  Note that the annual rental grant shall be subject to the Youth Zone securing planning approval.