Decisions for issue Open Market Development Proposal

(1)  Note the project progress described in section 7 made since the Stage 2 submission received by the council in September 2007.

(2)   Approves the draft Heads of Terms referred to in section 5 and attached to the accompanying part two confidential report as the basis for negotiations of the Development Agreement.

(3)   Approves landowner consent for the project to continue, subject to continued engagement between officers and the Open Market Traders Association and Hyde regarding sustainability issues to seek improved sustainability performance, and that the Director of Cultural Services and the Head of Law negotiate a draft Development Agreement.

(4)   Approves the delegation of authority to approve the Development Agreement to the Director of Cultural Services and the Head of Law in consultation with the Cabinet Member for Enterprise, Employment and Major Projects.

(5)   Delegates authority for approval of the final scheme at RIBA Stage D, and prior to the submission of a planning application, to the Director of Cultural Services in consultation with the Cabinet Member for Enterprise, Employment & Major Projects.

(6)   Agrees that the Open Market Traders Association, supported by council officers, proceed to incorporate a Community Interest Company for the purpose of taking a long term lease on the new market and managing all aspects of the new market.

(7)   Supports council representation of up to 19% on the Board of the Community Interest Company to be incorporated by the Open Market Traders Association and that the Board should be made up as described in paragraph 7.2, point 6 of the report.