(1) That the outline terms in relation to the changes to the lease arrangements be approved, as set out in the report considered in Part 2 of the agenda.

(2) That authority be delegated to the Corporate Director of Place, in consultation with the Director of Finance and Systems and the Corporate Director of Governance and Community Strategy to agree final terms for the leases.

(3) That authority be delegated to the Corporate Director for Governance and Community Strategy to enter into legal agreements as required to implement these recommendations.

These proposals allow the Council to secure a capital receipt, facilitate the regeneration of part of Stretford town centre, support the continued economic development of Altrincham Town Centre and provide additional new residential units and benefit from future Council Tax receipts.

Do nothing; but this will limit the ability of the Trafford:Bruntwood JV to deliver the regeneration benefits in Stretford and Altrincham, in line with the Council’s aspirations for both towns, due to the requirements for developers and funders for a long leasehold interest. In addition it will also mean the Council does not receive the associated capital receipt.