Issue - meetings

The council was in the position to approve the lease arrangements for East Kent College group to take on 53 to 57 High Street Margate to deliver the Margate digital campus. There had been some complications in approving this which had been outlined in the report. The council would not be losing an income from this, the funding to purchase the building was from grant funding. Consequently, the council would not recoup any proceeds from a sale or from rental payments.

Councillor Everitt proposed, Councillor Keen seconded and Cabinet agreed that:

“1. Agree that the grant agreement at Annex 1 between the Council and East Kent Colleges Group be signed by the Section 151 Officer, with the seal to be witnessed by two authorised officers.

2. Approve the proposed Lease to East Kent Colleges Group of 53-57 High Street, Margate on 125 year term at a peppercorn rent, and approve that the appointed Joint Venture Steering Group members confirm consent to the same. The approval is required under the Joint Venture Agreement dated 14 December 2007 between the South East England Development Agency and Thanet District Council.

4. Authorise the Head of Regeneration and Growth in consultation with the Head of Property to finalise the terms.

5. Authorise the Head of Legal and Democracy to negotiate and complete the necessary legal formalities and all necessary deeds and agreements arising from or ancillary to the grant of the lease of the property.”