To consider a report of the Executive Member for Economic Growth and Prosperity.

1)         That the proposal for the relocation of Altrincham Library be agreed.

2)         That the Corporate Director of Economic Growth and Prosperity be authorised to finalise lease terms with Citybranch.

3)         That the Acting Director of Legal and Democratic Services be authorised to complete the legal documentation for a 125 year lease.

4)         That agreement be given to the funding proposals for lease premium of £1,998,750 to be funded by ring-fenced land receipts from the planned 13/14 and 14/15 land sales programme along with the allocation of capital receipts from over achievement of sales already in the Land Sales Programme.

The Executive Member for Economic Growth and Prosperity submitted a report detailing progress on proposals for a new library as part of the regeneration of the Market Quarter in Altrincham, and proposing terms for a 125 year lease for the library and a funding route. A schedule was tabled illustrating potential contributions from the Land Sales Programme and, in response to a question, it was agreed that clarification would be provided outside the meeting in relation to land at Stokoe Avenue, Altrincham.

            RESOLVED:

(1)        That the proposal for the relocation of Altrincham Library be agreed.

(2)        That the Corporate Director of Economic Growth and Prosperity be authorised to finalise lease terms with Citybranch.

(3)        That the Acting Director of Legal and Democratic Services be authorised to complete the legal documentation for a 125 year lease.

(4)       That agreement be given to the funding proposals for lease premium of £1,998,750 to be funded by ring-fenced land receipts from the planned 13/14 and 14/15 land sales programme along with the allocation of capital receipts from over achievement of sales already in the Land Sales Programme.