Decision

Decision Taken: The Cabinet Member for Finance
and Council Reform:
 
Approved the principle of proceeding with the
acquisition of the Property for a
sum of up to £16,000,000 exclusive of
value added tax based on the principal terms set out in Part B of
this report.
 
Approved in principle the additional capital
expenditure required as detailed in
Part B of this report, to bring the Property
and its flats up to a reasonable standard
for temporary accommodation occupation and to
cover the stamp duty land tax
costs and other costs associated with the
acquisition.
 
Delegated authority to the Executive Director
of Finance and Resources,
following consultation with the Cabinet Member
for Finance and Council Reform,
subject to all necessary due diligence, to
agree the commercial terms of the
acquisition of this Property including final
price and enter to all associated legal
agreements and documentation.
 
 
Reasons for the Decision: The Council has a
statutory obligation to house people in need, and this portfolio of
properties will help meet this obligation.