Issue - items at meetings - Brighton Centre reserve maintenance works

Report of the Director of Culture & Enterprise (copy attached).

(1)   That Cabinet approves allocation of £820,000 from the Brighton Centre Re-Development Reserve towards maintenance and operational needs of the existing Brighton Centre in order that the economic impact of the Venue can be maximised up to the point of re-development. This amount is based upon an assumption of continued Planned Maintenance Budget investment at a level equivalent to 2009/10.

(2)         That Cabinet instructs officers to continue to reassess the required level of the reserve once the latest feasibility study is completed. The council will need to build sufficient contributions within the Medium Term Financial Strategy to ensure the level of the Brighton Centre Redevelopment Reserve is adequate to support the development.

136.1                The Cabinet considered a report of the Director of Culture & Enterprise concerning proposals for funding to be allocated to maintain the economic impact of the Brighton Centre (for copy see minute book).

136.2                The Cabinet and opposition Members agreed that the proposed work was essential to maintaining the economic vitality of the Brighton Centre and continuing to attract businesses to the city.

136.3                RESOLVED- That, having considered the information and the reasons set out in the report, the Cabinet accepted the following recommendations:

(1)         That Cabinet approves an allocation from the Brighton Centre Re-Development Reserve towards maintenance and operational needs of the existing Brighton Centre in order that the economic impact of the Venue can be maximised up to the point of re-development.

(2)         That Cabinet instructs officers to continue to reassess the required level of the reserve once the latest feasibility study is completed; and

(3)         That Cabinet notes the need for the council to build sufficient contributions within the Medium Term Financial Strategy to ensure the level of the Brighton Centre Redevelopment Reserve is adequate to support the development.