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Having been duly proposed and seconded, the
Executive:
 
Passed a resolution under Schedule 12A of the
Local Government Act 1972 to exclude the press and public from the
meeting, on the basis that if they were present during the business
to be transacted there would be a likelihood of disclosure of
exempt information, within the meaning of Schedule 12A to the Local
Government Act 1972: Reason: Information relating to the financial
or business affairs of any particular person (including the
authority holding that information).  
 
Following consideration of the officer report,
appendices, discussion, and a drafting amendment the Executive
resolved:
 
A)  
To note under section 123 of the Local Government Act 1972,
Somerset Council has power to dispose of land not held for housing
or planning purposes in any way it sees fit, providing it obtains
the best consideration reasonably obtainable for that land (see
legal and procurement implications below) and note the valuation of
the site which is based on current planning policy conditions as a
value reasonably attainable. 
B)  
To note the site was identified as surplus at the Executive Meeting
on 31st July 2024 following a recommendation from the Asset
Management Group.
C)  
To agree the surplus site should be sold at a value above the
reasonably attainable valuation.
D)  
To note and consider the funding letter supplied to support the
proposal from Mayday Saxonvale Development Limited.
E)  
Subject to the above, to agree the council should proceed towards
an unconditional sale of the site to Mayday Saxonvale Development
Limited with a completion date prior to 31st March 2025 and to
delegate responsibility for completing the necessary due diligence
prior to sale and exchange on and completion of the sale, to the
Executive Director for Community, Place and Economy in consultation
with the Lead Member for Economic Development, Planning and Assets
and the Interim Head of Legal Services. To ensure continued
compliance with legal requirements and process as regards the
Council’s statutory duties on a sale under s123 an updated
valuation of the land will be obtained on or before exchange of
contracts’.
F)   
Agrees the case for Appendices 1, 2, 3, 4, 5, 6 and 7 to be
regarded as exempt information and to be treated in confidence, as
the case for the public interest in maintaining the exemption
outweighs the public interest in disclosing that
information.