Issue - meetings

The Cabinet Member for Housing and Health introduced the report and outlined an opportunity for MBC Property Holdings to acquire a completed block of 25 units in High Street ward.

It was stated that there would be six car parking spaces for the 25 units but there was a limited supply of land in the town centre and the council could miss the opportunity.

In response to questions about the capacity of Mid Kent Legal Services the Director of Regeneration and Place confirmed that it did, through either internal or external legal support..

RESOLVED: That the Cabinet be recommended to:

1.  Approve the financial returns for the proposed acquisition as shown in Exempt Appendix 3 of this report, which supports the Housing Development and Regeneration Investment Plan and overall Development Strategy.

2.  Give delegated authority to the Director of Finance, Resources and Business Improvement to:

a) Negotiate terms for the purchase of the proposed acquisition for the sum as shown in the Exempt Appendix 3 of this report.

b) Procure and enter into all such deeds, agreements, contracts and documents which may be required to facilitate the purchase of the site, and the subsequent redevelopment works required to deliver the scheme referred to in this report. Including (but not limited to) any related appointments such as suitably qualified consultants and a Contractor.

c) Subject to satisfactory conclusion of all due diligence to negotiate and finalise and complete all legal formalities, deeds and agreements which may be required to facilitate the purchase.

d) Negotiate and agree any lease between the Council and Maidstone Property Holdings.

3.  Authorise the Head of Mid Kent Legal Services to appoint the Solicitors required to negotiate and complete the necessary contract documentation, deeds and agreements associated with the purchase and construction works on the terms as agreed by the Director of Finance, Resources & Business Improvement.