Decision Maker: Chief Executive, Chief Finance Officer, Group Head of Corporate Governance
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 ongoing financial stability of the
Council.
1. The Chief Executive has undertaken
necessary negotiations to complete the acquisition of the asset in
consultation with the Chief Finance Officer, the Leader and the
Cabinet Member for Finance.
2. 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, to ensure the
acquisition was prudentially affordable.
3. The Head of Corporate Governance entered into the legal
documentation necessary to acquire the asset
Option 1 - Formally agree the conditional
bid
Option 2 - Formally agree not to submit a bid
Publication date: 12/09/2018
Date of decision: 01/03/2018