Decision

Following cabinet approvals on 20th February 2023 and 17th July which authorised approval to purchase properties utilising LAHF grant received.

This officer decision notice is to record the decision to complete 7 house purchases at Griffin Close, March from a private developer, Lodge House Ltd.

Decision:

The purchase of 7 properties as part of the LAHF programme in accordance with cabinet approvals at a total purchase price of £1,330,000.

Reasons for the decision

I am permitting that we buy the properties at:

Griffin Close, March:

LAHF Round 1:

• Plot 1 & 2 for the purchase price of £190,000 each

LAHF Round 2:

• Plots 3, 4, 5, 6 & 7 for the purchase price of £190,000 each

with an estimated grant of £637,48 (R1 = £176,000 and R2 = £461,480) towards these purchases and related costs for the following reasons:

·         I have looked at the documentation supplied as part of the sale including:

o   Valuation Report.

o   Solicitor’s Report

o   Contract and transfer clauses

·         I am satisfied that the purchase falls within the remit of what cabinet approved including:

o   It is within the financial thresholds of the confidential appendix.

o   The signed LAHF MOU with Government

o   The location of the property

o   The view of Investment Board

Alternative options considered

Not applicable.