Issue - meetings

RESOLVED: That 

1.  The financial returns for the proposed acquisition as shown in Exempt Appendix 3 to the report, which supports the Housing Development and Regeneration Investment Plan and overall Development Strategy, be approved;

2.  Delegated authority be given 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 to the 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 if required;

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.  The Head of Mid Kent Legal Services be authorised 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.

The Cabinet Member for Environmental Services introduced the item and stated that the Council was proposing to purchase a development of 13 homes in South Ward as part of its 1,000 Affordable Homes Programme. The homes were a mixture of 2 and 3 bedroom houses with an on-street parking spaceallocated to each property, and that they were available with affordable and market rent.

The Committee agreed the property acquisition would be acceptable and that the development in the area would be welcomed.

RESOLVED to RECOMMEND to the CABINET:

That the Cabinet:

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, are approved;

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 if required;

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; and

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.