Agenda and decisions

To consider the exclusion of the press and public for the following items of business on the ground that it involves the likely disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Local Government Act.

By Virtue of Paragraph 3: Information relating to the financial or business affairs of any particular person (including the authority holding that information)

Condition:

Information is not exempt if it is required to be registered under-

The Companies Act 1985

The Friendly Societies Act 1974

The Friendly Societies Act 1992

The Industrial and Provident Societies Acts 1965 to 1978

The Building Societies Act 1986 (recorded in the public file of any building society, within the meaning of the Act)

The Charities Act 1993

Information is exempt to the extent that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Information is not exempt if it relates to proposed development for which the local planning authority may grant itself planning permission pursuant to Regulation 3 of the Town & Country Planning General Regulations 1992(a).

That the press and public be excluded from the meeting for the following item of business on the grounds that it involves the disclosure of exempt information as defined by paragraph 3 of Part 1 of schedule 12A to the Local Government Act.

To receive and consider the report of the Director of Commercial Services.

Decision (taken 11 June 2020)

1.         That the financial model outlined in the report be noted. 

2.         That the capital programme is increased with a budget to fund this purchase.

Reason for the decision

1.         The opportunity has arisen to acquire the leasehold interest which would allow the Council to merge the lease with the freehold interest which consolidates the title.  Combined with the new lease this provides a more remunerative investment and increases the market value of the Council’s total investment in the property.

2.         The proposed acquisition and letting is in accordance with the Council’s medium-term financial strategy. 

3.         A separate report will be presented to Executive Cabinet to seek approval for the acquisition and subsequent letting and this report seeks approval for a new capital budget.

Leader and Deputy Leaders Consultation Response

None.

The Chief Executives response to Member Representations

None. 

Decision taken by the Chief Executive pursuant to the delegation contained at Appendix 2 Responsibility for Functions, Part C paragraph 1.3, urgent and emergency situations.

GARY HALL

CHIEF EXECUTIVE

In consultation with

CLLR ALISTAIR BRADLEY                          CLLR PETER WILSON

EXECUTIVE LEADER                                  DEPUTY EXECUTIVE LEADER