Decision

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 person (including the authority holding that information).

To dispose of the Council’s equity share and freehold.

Reasons for the decision

To dispose of the Council’s equity share and freehold as per provisions within Shared Equity Agreement dated 30th March 1992

Alternative options considered

Do nothing – do not dispose of equity share and freehold.
Benefit: None
Disbenefit: The Tenant has a right to acquire the Council’s equity share and freehold under the terms of the Shared Equity Agreement. To not do so would leave the Council open to legal challenge