Decision

RESOLVED that
Cabinet recommended to Full Council that:
 
A   
Delegated authority be given to the Leader of the
Council in consultation with the Executive Director responsible for
regeneration and property, and the Section 151 and Monitoring
Officers, to determine and finalise commercial terms up to a total
amount (this being the aggregate cost of the purchase price, SDLT
and any corporate liabilities and transaction costs) as set out in
exempt Appendix A of this report for the purchase of
either:

 
            
i)       
100% of the shares of Terminus House (Commercial)
LLP and Terminus House Harlow Resi LLP, or

 
           
ii)       
The freehold interest in Terminus House, Terminus
Street including the existing multi-storey car park, commercial
premises and residential units.

 
B   
Delegated authority be given to the Leader of the
Council in consultation with the Managing Director, Section 151 and
Monitoring Officers, to complete the acquisition of either
(i) or (ii) above, following agreement
of legal contractual documentation, and completion of company,
commercial, legal and property due diligence.

 
C   
Delegated authority be given to the Leader of the
Council in consultation with the Section 151 to allocate the
required budget for the negotiated price (including associated
costs) and to finalise any required capital financing in which the
Capital Strategy and Treasury Management Strategy are amended to
reflect the capital transaction.

 
D   
The asset be transferred to the Harlow Regeneration
Partnership to enable Hill Group to prepare development options to
optimise the use of the site.