Issue - meetings

Report of the Cabinet Member for Resources, Leisure and Culture seeking approval for the principle of the sale of the Council’s freehold interest in the above property and to grant the necessary delegation to the Head of Property and Procurement for the disposal of the land, attached.

DECISION MADE: (Ref: CAB CAB 11/12 6707)

On consideration of the report of the Cabinet Member forResources, Leisure and Culture, Cabinet agreed the following:

(i)  To approve the principle of the sale of the Council’s freehold interest, and

(ii)  To delegate authority to the Head of Property and Procurement to negotiate and agree the terms of the sale to the bidder that offers best consideration following consultation with the Cabinet Member for Resources, Leisure and Culture and carry out all ancillary matters to dispose of the site.

(iii)  To note that the estimated value of the capital receipt from this sale has already been built into the funding of the capital programme. Any receipt higher than the estimate will be used to reduce the funding deficit. A receipt lower than this will increase the deficit.