To consider a report in respect of a lease at Torre Valley North, Torquay.

(i)       that the granting of a 30 year full repairing lease to Torre Valley Sports Group CIC (Community Interest Company) at the appropriate market rent be approved;

(ii)      that authority is delegated to the Assistant Director of Corporate and Business Services, in consultation with the Executive Head of Business Services and the Torbay Development Agency, to approve the detailed terms of the lease; and

(iii)      that, in light of the protracted delays and the revised higher rental figure, the Assistant Director of Corporate and Business Services be authorised to offer a rent free period of 30 months, to allow the Torre Valley Sports Group CIC time to submit an application to the Council for a grant to offset the market rent.

To enable the lease to be finalised for Torre Valley North and to allow the Torre Valley Sports Group Community Interest Company (CIC) time to submit an application to the Council for a grant to offset the market rent.

Alternative options were set out in the submitted report but not discussed at the meeting.

This decision will come into force and may be implemented on Tuesday, 27 September 2016 unless the call-in procedure is triggered (as set out in the Standing Orders in relation to Overview and Scrutiny).

The Council has been in negotiations with Torre Valley Sports Group CIC (Community Interest Company) for a number of years regarding the lease terms for Torre Valley North.  The Council is now in a position to sign the lease taking into account the revised Corporate Asset Management Plan 2015-2019 which was updated in February 2016.

It was proposed that the lease be granted at the appropriate market rent with a 30 month rent free period being offered so that the average rent over the first five years was equivalent to the originally agreed rent of £2,000 per annum.  This proposal also recognised the change in the Council’s policy, which had occurred during the protracted period of lease negotiations and which had resulted in a higher rent position.  The previous discussions had been in principle and were always subject to contract.

Mr Robert Loxton made representations to the meeting on behalf of the Torbay Sports Council.

The Mayor considered the recommendation of the Policy Development and Decision Group (Joint Operations Team) made on 14 September 2016 and his decision is set out above.

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