Decision Maker: Chief Executive, Chief Finance Officer
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Having received up to date valuation advice
prior to transfer, the Chief Executive in Consultation with the
Leader, Portfolio Holder for Finance and Chief Finance Officer,
agreed to transfer the former Bugle PH into the ownership of Knowle
Green Estates Ltd for nil cash consideration:
Having received up to date valuation advice prior to transfer, the
Chief Finance Officer in Consultation with the Leader, Portfolio
Holder for Finance and Chief Executive, agreed to loan to Knowle
Green Estates Ltd (if necessary) the funds to enable it to purchase
at full market value.
To allow the Council and the Company to move
properties to the most advantageous holding organisation.
The property will provide Knowle Green Estates with an important
asset that will support the Council in delivering its ambitious
housing and regeneration programme across the Borough to help meet
the diverse needs of its residents.
Option 1 - to transfer properties to KGE
Ltd
Option 2 - not to transfer
Publication date: 08/03/2019
Date of decision: 07/03/2019