Decision type: Key

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 18/12/2020

Reason for urgency:
COVID-19 and the impact on the live events sector has created significant uncertainty and challenges for this contract. This October we were due to agree the optional existing extension year (for 2022). AEG Presents and the council, due to the unforeseen circumstances of COVID-19, have been re-negotiating terms on the current contract and now need to ratify these via Cabinet.

The negotiations are time sensitive and require an urgent decision in order to:

Resolve our negotiations and variations to the contract, which are contingent on this report, in order to confirm the optional extension year (2022) plus a payment for 2020 and an option to extend the contract by an additional year to include 2023 in respect of the loss of the 2020 event. This would thereby secure significant guaranteed income for the council in 2020, 2021 and 2022 and potentially secure a payment for 2023.
Or:
Make alternative arrangements to find a new contract for 2022. Given the planning complexity for

Anticipated restriction: Part exempt (Part of the report will be exempt)  - View reasons

Explanation of anticipated restriction:
The report will include financially sensitive information.

Decision due: 6 Jan 21 by Cabinet

Lead member: Cabinet Member for Culture, Arts and Brexit

Lead director: Corporate Director, Children and Culture

Department: Children and Culture

Contact: James Thomas, (Corporate Director, Children's Services) Email: James.Thomas1@towerhamlets.gov.uk.

Consultation process

Consultees

Has an Equality Analysis been carried out and if so the result of this Assessment?: No

What supporting documents or other information will be available?: None