Issue - meetings

Councillor H. Harvey

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

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 ‘G’.

The Property and Development Manager outlined the proposed terms of the deferment and the risks and benefits associated with it.

Alternative options considered and rejected by the Committee:

·         Not to agree the rent deferment.

Resolved to approve a rent deferment in relation to letting ‘G’, in return for a longer lease and extended security and an increase in the overall amount of rent received.

Reason for Decision:

The proposed terms will assist the cash flow of the tenant in the difficult economic climate and should prevent void units and associated void costs.