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Issue - meetings

Property Acquisition

Meeting: 27/03/2019 - Policy and Resources Committee (Item 198)

Property Acquisition

Additional documents:

Minutes:

The Committee considered the exempt report of the Director of Finance and Business Improvement relating to the acquisition of the long leasehold for a property.

 

RESOLVED:

 

  1. That authority be delegated to the Director of Finance and Business Improvement to negotiate and agree terms for the property acquisition as detailed in the exempt report of the Director of Finance and Business Improvement;

 

  1. To borrow from the Public Works Loan Board to contribute towards the funding of the acquisition;

 

  1. That authority be delegated to the Director Finance and Business Improvement to undertake a procurement process for the role of managing agent for the property and to procure and award such contracts for any services, including building and environmental surveys, covenant review and repairs and maintenance contracts as necessary;

 

  1. That authority be delegated to the Head of Legal Services to complete the necessary legal formalities and all agreements and deeds arising from or ancillary to the acquisition of the property on the terms agreed by the Director of Finance and Business Improvement or to appoint solicitors to complete such legal formalities and documents if considered necessary; and

 

  1. That authority be delegated to the Director of Finance and Business Improvement to grant such leases, accept surrenders and to enter into such property transactions in respect of any part of the property on terms to be agreed in order to maximise the economic benefits from the property and that the Head of Legal Services be authorised to complete the necessary legal formalities and all deeds agreements arising from or ancillary to such property transactions.

 

Voting:  For – 10  Against – 1 Abstentions – 1