Decision details

Before the Committee was a report by the Director for Place, copies of which had been circulated to all Members and a copy of which is attached to the signed copy of these minutes as Item 7.

The purpose of the report was to advise members of the Sub-Committee of a dispute that had arisen in relation to the development of the Worthing Integrated Care Centre (WICC) and Multi-Storey Car Park (MSCP); to propose a suitable financial resolution; and to advise on associated fees and interest payments related to the project. The report set out a clear picture of the final amounts required to complete the wider project to an agreed deadline

The Leader and Cabinet Member for Regeneration introduced the report and gave background to the decision before Members. The meeting was told that the process had taught the Cabinet about working in partnership with other bodies for the future.

A question was asked about rental income from the WICC and the Cabinet Member undertook to provide a written response to the question.

Decision

1.     That a budget virement of £1.85m from the Strategic Property Investment to settle the dispute be approved;

2.     That further budget virements from the Strategic Property Investment Fund be approved to ensure practical completion of the WICC and MCSP by May 23rd 2024  of:

a)     £250k for legal/professional fees;

b)     £721k in additional interest costs on borrowing

3.     That the Director for Place be authorised to finalise the terms of the settlement agreement and to enter into that agreement in consultation with the Leader and Cabinet Member for Regeneration.

Call-in

The call-in deadline for the decisions will be 5.00pm on 16 February 2024.