Agenda item

Illuminated River - Heads of Terms

Report of the Director of the Built Environment.

Minutes:

The Committee received a report of the Director of the Built Environment which detailed the proposed legal agreement, based on a set of Heads of Terms, between the Illuminated River Foundation (IRF) and the City of London Corporation.

 

 

RESOLVED- that:

      I.        The Director of the Built Environment be authorised to sign the Heads of Terms on behalf of the City Corporation as trustee of Bridge House Estates; and

 

    II.        The Comptroller & City Solicitor is authorised, in consultation with the Director, (both acting for the City in its capacity as trustee of Bridge House Estates) to negotiate the detailed terms of the legal agreement based on the agreed Heads of Terms, and subsequently execute that legal agreement; and

 

   III.        That the Committee agreed to commit £500k of Bridge House Estates’ existing bridge maintenance budget, already deferred to align with the project, to support delivery of the lighting at London Bridge.

 

 

 

 

 

Supporting documents: