It is resolved that:
(A) Council endorse granting a 20-year lease with a 10-year option to The International Grammar School Sydney Limited over the City's investment property at 4-8 Kelly Street Ultimo commencing 1 July 2019 generally in accordance with the Heads of Agreement tabled within Confidential Attachment B to the subject report; and
(B)
authority be delegated to the Chief
Executive Officer to continue negotiations on the lease documentation generally
in accordance with the Heads of Agreement tabled within Confidential Attachment
B to the subject report to achieve the commercial outcomes required, and to
administer and manage the lease including any variations throughout the term of
the lease and to execute all documentation for the aforementioned.