Issue - meetings

1.    Council is asked to:

1.1 approve the freehold acquisition of 5 houses on the terms set out in this report,

1.2  Delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with the Chair and Vice Chair of the Corporate Policy and Resources Committee, to agree minor variations to the Heads of Terms and the acquisition price within a tolerance of 10% of the agreed price; and

1.3 Delegate Authority to the Group Head of Corporate Governance to enter into all relevant legal documentation relating to the acquisition referred to in 1.1 above.

Committee is asked to approve Heads of Terms relating to the acquisition of residential properties for housing need, and make a recommendation to Council.

This report contains exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to Information) (Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because, disclosure to the public would prejudice the financial position of the authority in any contract or other type of negotiation with a prospective purchaser who could then know the position of the Council.

Committee resolved to:

1.    Approve the Heads of Terms in Appendix 1 relating to the acquisition of property,

2.    Make a recommendation to Council to:

2.1  approve the acquisition,

2.2  delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with the Chair and Vice Chair of Corporate Policy and Resources Committee to agree minor variations to the Heads of Terms and the acquisition price within a tolerance of 10% of the agreed price with this Committee; and

2.3  delegate authority to the Group Head of Corporate Governance to enter into all relevant legal documentation relating to the acquisition referred to in the exempt report.  

Committee considered a report that sought a recommendation for Council to approve the acquisition of residential property to provide much needed accommodation for residents that are currently living in night-paid accommodation.

Funding for these properties would come from a Commuted Sum and the Local Authority Housing Fund. If Council agreed to proceed with the purchase of these residential properties, there would still be a sum available to spend on other suitable properties for use as affordable housing.

Committee resolved to:

1.    Approve the Heads of Terms in Appendix 1 relating to the acquisition of property,

2.    Make a recommendation to Council to:

2.1  approve the acquisitions,

2.2  delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with the Chair and Vice Chair of Corporate Policy and Resources Committee to agree minor variations to the Heads of Terms and the acquisition price within a tolerance of 10% of the agreed price with this Committee; and

2.3  delegate authority to the Group Head of Corporate Governance to enter into all relevant legal documentation relating to the acquisition referred to in the exempt report. 

Councillor Howkins asked that it be noted on the minutes that she was abstaining from the vote.