Decision

RESOLVED –
 

1.      That the Portfolio Holder
ENDORSES the Watford Riverwell (Central Zone) LLP’s
acquisition and same day transfer to WHTHT, as outlined in the
Heads of Terms appended to the report, to facilitate the
redevelopment of Watford General Hospital.

 

2.      That the Portfolio Holder
NOTES the progress made at Watford Riverwell to date in the
delivery of key sites and the LLP’s Boards intention to
utilise elements of the sale proceeds to reduce the infrastructure
cost recharge to other development plots within Riverwell, as
identified in the report, and considers such proposals to be an
approved Business Plan for the purposes of the waiver of such a
Condition Precedent in the Members Agreement.

 

3.      That the Portfolio Holder
APPROVES the gross valuation figure, as demonstrated through the
S123 report commissioned from an external valuer, and the
associated cost deductions of the site wide and northern zone
infrastructure costs and the cost of delivering planning
consent.