Decision details

To update members on progress with the programme.

RESOLVED:

1.  That the disposal of Elmington sites A and B on the main terms and conditions that are set out in the closed report be approved.

2.  That the head of property be authorised to agree any variations to these terms that may be necessary to achieve the successful regeneration of Elmington sites A and B.

3.  That in the unlikely event that this recommended sale does not proceed to exchange, the head of property be authorised to agree the terms of a sale with any one or combination of the under bidders set out in the closed report and/or any other third party, provided that these terms conform with the council’s legal obligation to achieve the best consideration reasonably obtainable. 

4.  That the capital receipt from the sale of the property be recycled into the council’s Housing Investment Programme.