RECOMMENDED TO COUNCIL:
That:
(1) 11.38 acres of land be transferred to Suffolk County Council for the construction of a new upper school at Moreton Hall, Bury St Edmunds, as detailed in Section 1 of Report No: CAB/SE/15/022, for the sum of £193,460 subject to a 125 year lease back of the land forming part of the shared community sports provision and an accompanying dual use agreement, whilst ensuring the commercial advantage of the Council’s ransom strip is maintained;
(2) a capital contribution of £1,366,460 be made to Suffolk County Council towards a shared community sports provision within the site made up of the balance of:
(a) £813,000 capital allocation for Bury Town FC relocation;
(b) £360,000 anticipated future s106 contributions for sporting facilities at Moreton Hall;
(b) the capital receipt of £193,460 detailed in (1) above; and
(3) delegated authority be given to the Head of Operations, in consultation with the Portfolio Holders for Waste and Property, and Leisure, Culture and Heritage, Chief Executive, s151 Officer and Monitoring Officer, to agree the terms of all legal agreements necessary to give effect to the above.