Issue - meetings

Cabinet Member: Transformation

Forward Plan Ref: 2019/001

Contact: Andrew Fairweather, Asset & Investment Team Manager Tel: 07825 790242/Karen Lister, Head of Estates & Strategy Tel: 07875 441940

Report by Director for Capital Investment & Delivery (CA10).

The information contained in the annex is exempt in that it falls within the following prescribed category:

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

and since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information, in that disclosure would undermine the process to the detriment of the Council’s ability properly to discharge its fiduciary and other duties as a public authority.

Approval was given on 21 December 2018 by The Leader of the Council with the agreement of the Director of Finance, to authorise the Strategic Director of Communities to negotiate, up to a specified maximum value, the purchase of Pearman’s land, being 13.32 ha (32.91 acres) adjoining the Council's land at Tank Farm, in order to ensure the County Council's control, influence and deliverability of the programmed capital receipt for Tank Farm.

The negotiations are now complete and this report details the provisionally agree terms of acquisition.

The Cabinet is RECOMMENDED to

(a)    authorise the Strategic Director of Communities in consultation with the Portfolio member to complete the purchase, for the value specified in Annex B, of Pearman’s land, being 12.51 ha (30.91 acres) adjoining Tank Farm.

(b)    authorise the Director of Law & Governance in conjunction with the Director of Capital Investment & Delivery and Director of Finance to undertake appropriate due diligence and prepare the necessary legal agreement on the terms referred to in Annex B.

Recommendations agreed.

Cabinet discussion was held in public session without detailed reference to the information contained on the annex, that remains exempt.

The information contained in the annex is exempt in that it falls within the following prescribed category:

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

and since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information, in that disclosure would undermine the process to the detriment of the Council’s ability properly to discharge its fiduciary and other duties as a public authority.

Approval was given on 21 December 2018 by The Leader of the Council with the agreement of the Director of Finance, to authorise the Strategic Director of Communities to negotiate, up to a specified maximum value, the purchase of Pearman’s land, being 13.32 ha (32.91 acres) adjoining the Council's land at Tank Farm, in order to ensure the County Council's control, influence and deliverability of the programmed capital receipt for Tank Farm.

The negotiations are now complete, and Cabinet considered a report that detailed the provisionally agreed terms of acquisition.

Councillor Eddie Reeves, Cabinet Member for Transformation, introduced the contents of the report and highlighted the benefits of the proposed recommendations.

RESOLVED:             to

(a)    authorise the Strategic Director of Communities in consultation with the Portfolio member to complete the purchase, for the value specified in Annex B, of Pearman’s land, being 12.51 ha (30.91 acres) adjoining Tank Farm.

(b)    authorise the Director of Law & Governance in conjunction with the Director of Capital Investment & Delivery and Director of Finance to undertake appropriate due diligence and prepare the necessary legal agreement on the terms referred to in Annex B.