Decisions for issue Brighton Waterfront

1)            Agree the draft Heads of Terms as summarised in Appendix 1 as the way forward for ongoing negotiations with Standard Life on the basis that final Heads of Terms will be submitted to this Committee for approval in due course.

2)            Note the key financial information as contained in paragraphs 7.1 to 7.11.

3)            Agree that:

a)        The current conference subvention budget is retained by the council to support conferences held within the city during any closure period and to attract conferences to the new venue once it is opened.

b)        The income generated from the sale of the current Brighton Centre site, the rent from the venue operator, the net savings achieved on the current Brighton Centre budgets and up to 25% of the forecast future income stream identified in Table 1 in paragraph 7.3 of the financial implications are earmarked to fund potential council investment in the new venue.

c)        The Brighton Centre Redevelopment Reserve can be used to fund project development costs incurred by the council on the central and Black Rock sites as set out in paragraph 7.11.  

4)            Note the overall procurement approach and various roles in relation to both sites as per paragraph 7.12.

5)            Note the staffing situation and that all staff potentially affected will be kept fully informed on an ongoing basis and in particular after project timescales and any TUPE implications are confirmed.

6)            Agree that a third party operator would run the new venue on terms to be agreed by a future meeting of this committee

7)            Welcomes and notes the progress made on essential, preliminary work to develop an emerging Transport Strategy for the project proposals, and requests that the Executive Director of Environment, Development & Housing, continues to identify and review all potential transport and highway opportunities presented by the project, in conjunction with the project partners and the Project Board, and reports back to this Committee when required.