The Cabinet considered a report on the acquisition of a site in the Borough.
RESOLVED that Cabinet agreed to:
1. Approve the acquisition of the investment asset identified in this report;
2. Authorise the Chief Executive to submit the stage 1 bid and any other subsequent bids required, undertake any necessary subsequent negotiations (including a stage 2 bid) and complete the acquisition (in consultation with the Chief Finance Officer, the Leader and the Cabinet Member for Finance);
3. Authorise the Chief Finance Officer to decide the most financially advantageous funding arrangements for the purchase and ensure the acquisition is prudentially affordable;
4. Authorise the Head of Corporate Governance to enter into any legal documentation necessary to acquire the asset;
5. exempt Contract Standing Orders in respect of our advisors.
Reason for the decision:
To continue with the Council’s ‘Towards a Sustainable Future’ programme to ensure it is in a position to withstand the financial challenges it currently faces.