Cabinet agreed the following:
1. To authorise the Director of Regeneration, in consultation with the Interim Director of Property to complete negotiations regarding the identified site in the High Street, Ramsgate and enter into a sub-lease until March 2027.
2. To authorise the Director of Regeneration, in consultation with the Interim Director of Property to engage with owners of an identified site in the High Street, to purchase the property, negotiating the best deal for the asset. Commissioning the relevant surveys, valuation and technical studies as required.
3. To authorise the Director of Regeneration to develop and commission an appropriate operating model for the project, engaging external legal advice as required.
4. To authorise the Director of Regeneration, in consultation with the Economic Development Portfolio Holder, to finalise the cash-flow with the identified model for delivery working with the S151 officer to ensure the Council is not put at financial risk from the Future High Street Fund project.
5. To note that Officers have submitted a Project Adjustment Form and the revised Economic Case to the Department for Levelling Up, Housing and Communities for approval, for the Ramsgate Future High Street Fund Project.