Decision details

The Director, Prosperity and Development provided the Cabinet with the report containing exempt information, which sought a decision on whether the Council should invest and take ownership of the YMCA building.

Following discussion, the Cabinet RESOLVED:

1.    To invest £383K into the redevelopment of Pontypridd YMCA in order to secure £4M of external funding, and to ensure that the scheme is delivered according to the agreed design, programme and cost plan. This investment can be funded from existing investment priority funding already allocated for Regeneration Investment within the current capital programme.

2.    To authorise the Director of Corporate Estates to take ownership of the building for £1, subject to a robust due diligence process. This would then include leasing back the building to the YMCA over a period of 99 years with a review of the arrangements at 25 years through a Lease Agreement supported by a Grant Agreement and Management Agreement.