Issue - meetings

Councillor H. Harvey

To consider a report on the proposed property letting ‘E’.

Reason for exemption

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 the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because if potential tenants were aware that the Council publish commercial information prior to leases being completed, they would be dissuaded from transacting with the authority and this may put the authority at a disadvantage in securing tenants for its properties.

Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information)

The Property and Investment Committee considered an exempt report on property letting ‘E’.

The Asset Management Contractor outlined the proposed terms of the rent concession and the benefits, and risks, to the Council of assisting, or not, this tenant.

Alternative options considered and rejected by the Committee:

·         Not to agree the rent concession.

Resolved to approve a rent concession to property letting ‘E’, in return for a longer lease and additional security.

Reason for Decision:

The proposed terms will assist the cash flow of the tenant in the difficult economic climate, thereby preventing a void unit and associated void costs.