(1)

approval is given to the release of Picklecombe Cottage, subject to an acceptable price being received, this to be agreed by the joint chairs in consultation with the relevant Cabinet Members and the Directors of Finance of the constituent authorities;

(2)

the additional land leading to the waterfront, in front of the property, is included to maximise receipts;

(3)

any capital receipt from Picklecombe Cottage is ring-fenced for investment into the park, to generate further revenue savings; this being a special case and not to be seen as setting a precedent;

(4)

the capital is used to maximise the revenue savings and income generation opportunities in the park, the exact projects to be decided on the basis of individual business plans, and the overall business plan for the park;

(5)

the full business cases is brought to the joint committee and Cabinet for consideration as soon as possible to ensure the savings required in the 2011/12 financial year can be achieved.