Purpose

The Cabinet will be asked to approve the
disposal, by way of leases to appropriate B&D Reside entities,
of a further three new-build schemes, together with proposals
relating to a series of loans facilities and premiums to enable the
disposals.

Content

The Cabinet will be asked to approve the
disposal, by way of leases to appropriate B&D Reside entities,
of a further three new-build schemes, together with proposals
relating to a series of loans facilities and premiums to enable the
disposals.

Cabinet resolved
to:
 
(i)  Approve,
in principle, the disposal of the schemes listed below by the
granting of long leases to the appropriate Reside entity (either
Barking and Dagenham Homes Ltd (company no. 12090374), B&D
Reside Weavers LLP (registered no. OC416198) or Barking and
Dagenham Reside Regeneration Ltd (company no. 09512728)):
 
· 
Gascoigne West Phase 1 (Block Cargo IG11 7DE, Block
Carrier IG11 7NE, Block Forge IG11 7NH)
 
· 
Gascoigne East Phase 2, Block E2 (Herring Court IG11
7YT, Leleu Court IG11 7YW, Mather Court IG11 7YX, Shuckford Court
IG11 7YY, Tide Street IG11 7NJ, Ketch Street IG11 7RY)
 
· 
Gascoigne East Phase 2 Block F1 and F2 (Fifeshire
Court IG11 7YP, Cutter Court IG11 7XB, Sailor Court IG11 7YR, Ewars
Marsh Court IG11 7WZ, Mizzen Street IG11 7RZ)
 
(ii)  Approve, in
principle, the draft Heads of Terms and loans for each of the
listed schemes to the appropriate Reside entity, as set out in
section 2 of the report;
 
(iii)  Delegate authority
to the Strategic Director, Finance and Investment, in consultation
with the Strategic Director, Inclusive Growth, to agree and
finalise the terms of the loans, leases and any other associated
documents, and to take any steps necessary to ensure compliance
with s123 of the Local Government Act 1972 and the Subsidy Control
Act 2022; and
 
(iv)  Delegate authority
to the Chief Legal Officer, in consultation with the Strategic
Director, Inclusive Growth, to execute all the legal agreements,
contracts, and other documents on behalf of the Council in order to
implement the arrangements.