Purpose

To consider approving the contract changes
required for the disposal contract of the former Rugby Football
Club site at Greenleys.

Content

1.1            
That Milton Keynes City Council with
Milton Keynes Parks Trust enters into the necessary legal
agreements to effect the contract changes, as set out in Annex C to
the report.
1.2            
That the
Sale Price be amended to remove the Minimum Sale Price option and
related deductions of the S106 liabilities and Community Facility
Works and have a fixed Sale Price at £4.2m.  
1.3            
That the agreed Heads of Terms, and
contract for sale, be amended as follows:

(a)        increase the
Sales Revenue Overage threshold by
£3.05m;

(b)       obtain savings from
the Surface Water Drainage Abnormal Costs; and

(c)        increase the
conditional period by six months to 8 June 2024.
2                   
That the Director of Environment
and Property, in consultation with theCabinet member for Resources and the Director
of Finance and Resources, be authorised to agree any additional
necessary and non-material variations to the contract for
the sale of the land to Bellway Homes, including changes to the
Heads of Terms at Annex C, and agree to enter into any other
necessary documents and agreements to effect the decisions made
pursuant to this report.