Decision details

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 on the approval of the construction budget for Benwell House.

Alternative options considered and rejected by the Cabinet:

·         Formally withhold approval

Resolved to:

1.    Approve the construction and refurbishment budget for the creation of a target of 69 new flats at Benwell House;

2.    Authorise the Group Head of Regeneration and Growth to oversee the implementation of the budget;

3.    Authorise the Chief Financial Officer to decide (i) the most financially advantageous funding arrangements for the capital expenditure, (ii) the most tax efficient method of holding the completed asset and overall to ensure the acquisition is prudentially affordable;

4.    Authorise the Head of Corporate Governance to enter into any legal documentation necessary to implement the refurbishment and construction project; and

5.    Agree to exempt Contract Standing Orders in respect of advisors where appropriate.

Reason for Decision:

Conversion of existing offices on site to residential under prior development approval process, with a further planning application for more development in the grounds and surplus car park will provide much needed residential accommodation in Sunbury.