Decision details

Cabinet:

1)  Noted the significant contribution of The Bottle Yard Studios (TBYS) facility to the City Economy and employment in South Bristol;

2)  Approved the continuation of The Bottle Yard Studios operations as a ‘going concern’ with a review of its Governance arrangements;

3) Agreed that the Council will merge the existing two grant agreements with HCA relating to land known as Hengrove Park and land known as Constellation/The Bottle Yard Studios into a new single consolidated grant agreement with HCA;

4) Authorised the Strategic Director: Place to approve the completion of the new grant agreement and to resolve any other issues in the terms of the new agreement including land ownership issues within the scope of the defined land area, where the agreed purchase price of the land contained in the new licence agreement is in excess of £500,000, subject to:

4.1.        Briefing of the Cabinet Member for Place on due diligence, detail of the grant agreement and legal arrangements, and the contribution of the grant agreement to the overall regeneration and economic growth in the area;

4.2.       Advice from the Service Director: Property recommending the terms of the grant agreement and any other property implications that might affect the Council’s interests as a result of the new agreement;

5) Approved the investment of capital funding of £692k for essential renewal and improvements protecting BCC reputation and enhancing business potential.

Recommendations 3 to 5 were approved at the meeting, as evidenced by the web recording (at 103:30) but they were omitted from this page previously in error. These decisions have now been added for the avoidance of doubt.