Issue - meetings

Councillor I.T.E. Harvey

To receive an update on progress with the acquisition of a property for financial and asset investment purposes.

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, disclosure to the public would prejudice the financial position of the authority in the bidding process for the site by allowing other bidders to know the position of the Council.  This in turn prejudices the Council by (i) distorting the bids process and (ii) prejudicing the opportunity for the Council to acquire a site through the Council for the prudent management of its financial affairs and provision of housing.

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

Cabinet received an exempt report providing an update on progress with an investment acquisition.

Resolved to note the update on an investment acquisition.