Proposed decision: That the property be sold, in line with the heads of terms agreed with a preferred bidder.
In the event of the deal with the preferred bidder proving abortive, for any reason, that authority be delegated to the Director of Infrastructure, in consultation with the Cabinet Member for Corporate and Democratic Services, to select a new purchaser from the underbidders and agree terms of the proposed sale in line with S.123 requirements.
How the decision relates to BS4K and Corporate Objectives: Securing a capital receipt to fund the capital programme and to streamline the Council’s property portfolio to achieve financial and efficiency benefits in line with appropriate policy.
Decision type: Key
Reason Key: Expenditure or savings of more than £1m;
Decision status: Recommendations Approved
Division affected: Broadstairs & Sir M M'fiore; Ramsgate;
Notice of proposed decision first published: 29/01/2016
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
Supporting documents contain commercially-sensitive information.
Department: Strategic & Corporate Services
Contact: Simon Dodd, Investment and Development Consultant 03000 416032 Email: firstname.lastname@example.org.
The proposed decision was considered and endorsed by the Property Sub-Committee on 12 April 2016.
Financial implications: Simon Dodd 03000 416032 email@example.com
Legal implications: 14/00068 (b)