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 lease. The income stream will assist in the future
ongoing financial stability of the Council
1) The offer submitted was formally agreed,
and the Chief Executive undertook necessary subsequent 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 upon (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; and
3) The Head of Corporate Governance entered into any 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: 27/04/2018