The Pre-Decision Scrutiny Questions and officer responses were noted.

DECISION

1.    To note the position with respect to the current negotiations with the DfE concerning the funding for the construction of the London Dock School. including a number of consequential amendments to the respective suite of legal documents.

2.    To approve the terms of both a Clawback Agreement, in respect of the under-lease for the London Dock School site, and the inclusion of a clawback clause within the Works Funding Agreement to be entered into between the Council and the DfE, as outlined in Section 7 of the report.

3.    To delegate authority to the Corporate Director of Place, in consultation with the Divisional Director of Legal Services to agree minor changes to the heads of terms as may be appropriate and to complete the legally binding clawback agreement

4.    To note the financial risk to the Council and the mitigation set out in section  7 of the Report.

Action by:

CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)

(Head of Commercial and Contracts (R. McKoy)

(Interim Head of Asset Management (H. Lock)

Councillor Mufeedah Bustin, Cabinet Member for Planning and Social Inclusion (Job Share) – Lead on Social Inclusion, introduced the report. She explained that this report was to update Cabinet on ongoing discussions with the developer and Department for Education on the work to provide a new school on the site. She highlighted that the school was likely to be oversubscribed as there was high demand in that area. The report highlighted the potential risks, including financial risks, of the scheme but noted that these were anticipated to be low.

The Mayor welcomed the report. He noted the Pre-Decision Scrutiny Questions and officer responses. Noting the risks set out, he put the recommendations to the vote. These were agreed without dissent and it was:

RESOLVED

1.    To note the position with respect to the current negotiations with the DfE concerning the funding for the construction of the London Dock School. including a number of consequential amendments to the respective suite of legal documents.

2.    To approve the terms of both a Clawback Agreement, in respect of the under-lease for the London Dock School site, and the inclusion of a clawback clause within the Works Funding Agreement to be entered into between the Council and the DfE, as outlined in Section 7 of the report.

3.    To delegate authority to the Corporate Director of Place, in consultation with the Divisional Director of Legal Services to agree minor changes to the heads of terms as may be appropriate and to complete the legally binding clawback agreement

4.    To note the financial risk to the Council and the mitigation set out in section  7 of the Report.