To consider an exempt report requesting a supplementary capital estimate in relation to property acquisition V.

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 (a) the report contains details of a proposed procurement, and to publish details of the Council’s intentions in advance would prejudice a best value deal for the Council and (b) the report contains confidential details of a proposed acquisition and publication of the details of this would prejudice the ability of the Council to conclude this negotiation on the best terms possible.

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

Council considered a recommendation from Cabinet for approval of a supplementary Capital provision of £85.7m for the design team and the contractors for the development of the site known as ‘Property Acquisition V’.

The development of this site seeks to support the Council to deliver its ambitious housing and regeneration programme across the Borough to help meet the needs of its residents. The site is also a key element in the emerging regeneration plans for Staines town centre.

Resolved to approve the supplementary Capital provision of £85.7m for the design team and the contractors for the development of the site.