To consider a sub-lease of an area of office space within Maidstone House to Kent Savers.

1.  That a sub-lease of an area on the first floor of Maidstone House be granted to Kent Savers.

2.  That the Property & Procurement Manager prepares draft Heads of Terms for a sub-lease to include the following clauses, be agreed:

·  That the term of the sub-lease does not exceed the length of the lease between the Council and its landlord;

·  That there will be no rent payable up to and including 31^st March 2012, or until the Credit Union is fully established, whichever is the earlier;

·  That the rent free period is granted in consideration of services to be provided by Kent Savers under a Service Level Agreement;

·  That the rent payable from 1^st April 2012 will be consistent with the occupational cost of Maidstone House to the Council

·  That the sub-lease includes a break clause at the end of the first year, every two years thereafter and one to coincide with the break clause in the lease between the Council and its landlord;

·  That the break clause at the end of the first year will be triggered by the Council if Kent Savers do not fulfil their obligations under the Service level Agreement;

·  That the sub-lease is contracted out of the Landlord and Tenant Act 1954.

3.  That the Head of Legal Services be instructed to prepare the sub-lease based upon the Heads of Terms prepared by the Property & Procurement Manager.