To agree to a thirty year lease for the Weymouth Pavilion CIC to help ensure the long term prosperity of the Pavilion thereby enabling the CIC to apply for grants to carry out repairs to the structure of The Pavilion.

Decision

(a)       That the grant of a 30 year lease between WPBC and the Weymouth          Pavilion CIC without break clauses, at a peppercorn rent be agreed.

(b)       That the payment of £30,000 per annum from car parking income that to date has been paid to the Weymouth Pavilion CIC will cease, and be used to repay the current £150,000 loan incrementally over the first 5 years of the new leave, be agreed;

(c)       That the payment of £250,000 from capital receipts Reserve to the Pavilion as a condition of the new lease requiring roof covering replacement plus other works.

(d)       That authority be delegated to the Strategic Director (Martin Hamilton) in consultation with the Brief holder for Finance and Assets, to agree the final terms of the lease.