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

Cabinet considered an exempt report recommending capital expenditure for a design team for the redevelopment of the White House site across 2018/19 and 2019/20.

Alternative options considered and rejected:

To formally withhold approval of the budget for the design phase.

Resolved to:

1.    Recommend to Council approval of the budget for the design phase of the project for the creation of a target of 28 affordable units on part of the White House site;

2.    Authorise the Head of Corporate Governance to enter into any legal documentation necessary to implement the redevelopment project; and

3.    Delegate the appointment of the advisors and design team to the Group Head of Regeneration and Growth in consultation with the Portfolio Holder.

Reasons for recommendation and decision

Redevelopment of the site will provide affordable housing for Borough residents and the ongoing revenue stream (once the works have been completed) will assist in the future long-term financial stability of the Council.

Approval will be sought subsequently for the construction Capital budget.