Decision

Exemption from publication: There are confidential appendices to this report, which are exempt by virtue of paragraph 3 of Schedule 12A of Part 1 of Schedule 12a of the Local Government Act 1972 because they contain information relating to the financial or business affairs of any particular person (including the authority holding that information).

To enter a Licence to Charge with the tenant to allow the lease to be charged.

Reasons for the decision

The tenant has obtained planning permission for construction of a larger 96-place OFSTED-registered nursery and pre-school at Thrift Farm. The increased revenue from the expanded nursery and pre-school will secure the financial future for Thrift Farm, enabling further modernisation of their adult care and farm facilities on site and support delivery of the Council’s services and meeting the Council’s obligations under Section 123 of the Local Government Act 1972.

Alternative options considered

To not permit the Lease Charge which would limit the tenant’s ability to borrow money to invest in the site.