Issue - meetings
- Restricted enclosure 2 , View reasons restricted (57/2)
- Restricted enclosure 3 , View reasons restricted (57/3)
- Restricted enclosure 4 , View reasons restricted (57/4)
The Director of Finance and Business Improvement introduced the report, and referenced the options as outlined in the report. The benefits of the preferred option were emphasised.
The Committee sought and received assurances over the process for establishing the condition of the building and expressed support for the preferred option and felt that it contributed to the local area and the Council’s financial security and viability.
1. Option 2 as outlined in the report, be agreed;
2. Delegated authority be given to the Director of Finance and Business Improvement to negotiate and agree terms for the acquisition of the property with the owner and to complete the acquisition on agreed terms at an agreed target purchase price;
3. Up to the agreed purchase price be borrowed from the Public Works Loan Board to contribute towards the funding of the acquisition;
4. Delegated authority be given to the Director of Finance and Business Improvement to undertake a procurement process for the selection and appointment of managing agents for the property and to procure, award and enter into such contracts for any services, including building and environmental surveys, covenant review and repair and maintenance contracts as necessary;
5. Delegated authority be given to the Head of Legal Services to negotiate and complete the lease and all necessary legal formalities, agreements and deeds arising from or ancillary to the acquisition of the property and the appointment of managing agents for the property and contracts for the services on the terms agreed by the Director of Finance and Business Improvement or to appoint such solicitors to complete such legal formalities and documents if considered necessary; and
6. The Director of Finance and Business Improvement be granted delegated authority 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.
Note: Councillor Cooper joined the meeting at 6.44 p.m. during the item’s consideration.