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
It will bring in a steady income stream for
the term of the multiple leases with different durations.
In order for the Council to deliver its ambitious housing and
regeneration programme across the Borough to help meet the needs of
its residents, the Council needs to generate additional income to
offset the revenue impacts of undertaking these projects across the
Borough.
1. The Chief Executive conducted any necessary
negotiations and completed 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, and overall to ensure
the acquisition was prudentially affordable.
3. The Head of Corporate Governance entered into any necessary
legal documentation to acquire the asset
Option 1 - Formally agree the conditional
bid
Option 2 - Formally agree not to submit a bid
Publication date: 13/09/2018
Date of decision: 10/08/2018