Update in relation to the impact of Covid 19 on the City of York Council’s Commercial Property Portfolio
Decision Maker: Decision Session - Executive Member for Finance and Performance, Executive Member for Finance and Performance
Decision status: Decision Made
Is Key decision?: No
Is subject to call in?: Yes
Purpose of Report: The report will set out the situation and impact
of Covid-19 on the Council’s commercial property
The Executive Member will be asked to note the position of the commercial property portfolio in relation to the Covid 19 situation and to consider the officer recommendation as outlined in the report.
i. the position and the support that the City Council has provided to the businesses within its commercial property portfolio in relation to the COVID-19 situation be noted;
ii. the impact of COVID-19 situation on the previously agreed lease to Spark:York be noted and that agreement be given to the removal of the obligation upon Spark:York to provide a deposit/bond payment and guarantee from one of its directors as part of the pre requisites originally required for the grant of a further lease.
Reason: To note the current impact of Covid-19 on the City Council’s commercial property following the grant of rent deferments, as set out in the report and to provide Spark York with further support and financial viability for their short term use of 17-21 Piccadilly.
Report author: Nick Collins
Publication date: 27/10/2020
Date of decision: 27/10/2020
Decided at meeting: 27/10/2020 - Decision Session - Executive Member for Finance and Performance
Effective from: 30/10/2020