Decision Maker: Group Head of Corporate Governance, Chief Executive, Chief Finance Officer
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
To acquire a building which would bring in a
steady income stream for the term of the lease. The income stream
will assist in the future long term financial stability of the
Council.
The Chief Executive completed the acquisition
of the asset in consultation with the Chief Finance Officer, the
Leader and the Cabinet Member for Finance.
The Chief Finance Officer decided (i) the most financially
advantageous funding arrangements for the purchase, (ii) the most
tax efficient method of holding the asset, and overall ensured the
acquisition was prudentially affordable.
The Head of Corporate Governance entered into any legal
documentation necessary to acquire the asset on 24 October
2017.
No declarations of interest were made.
Option 1 - Formally agree the conditional
bid
Option 2 - Formally agree not to submit a bid
Publication date: 24/01/2018
Date of decision: 23/10/2017