Decision

Councillor
Munday, in the absence of the relevant Cabinet Lead, introduced a
report seeking approval for a mechanism which would enable the
Council to purchase key strategic sites within the Borough without
having to seek Cabinet or Council approval for the use of
Regeneration Capital Reserves for the acquisition of each
site.
 
The report
and options available to Cabinet were discussed in
detail.
 
Following
a question and answer session, debate
and vote, Cabinet agreed the report’s recommendations for the
reasons stated in the submitted report.
 
RESOLVED
that:
 

A.                 
the use of the Regeneration Capital Reserves to
deliver the Council’s ambitious regeneration programme in
accordance with the Council’s Regeneration and Economic
Development Strategy be endorsed; and

 

B.                 
Council be recommended to:
 

1.                 
delegate authority to the Executive Head of
Regeneration, Economic Development and Preventative Services in
consultation with the Cabinet Lead for Regeneration and Communities
to acquire land within the borough for the purposes of
Regeneration, subject to a satisfactory financial appraisal
approved by the S151 Officer;

 

2.                 
delegate authority to drawdown funds from the
Regeneration Capital Reserves to acquire land for Regeneration
purposes. under this delegation; and

 

3.                 
delegate authority to the S151 Officer to amend the
Capital Programme.