Decision

Summary of Decision

The Cabinet Member for Finance and Council Reform has:

1. Approved in principle the acquisition of two parcels of land on Bishops Bridge Road.
2. Delegated authority to the Executive Director of Finance and Resources to:

a)    finalise the legal documentation as required (including the two land transfer deeds and the maintenance agreement); and

b)    approve the Council entering into the legal documentation as required in association with the acquisition of the Properties and related matters.

Reasons for Decision    

In respect of the recommendation to purchase the Properties, the May 2000 s106 agreement contained a requirement for the Council to serve notice on the developer (British Land) to acquire the land following completion of the bridge which occurred in 2006.  The Council served the notice on the Developer on 5 February 2007 however the transfer was not enacted. Despite the transfer not occurring, the Council have taken responsibility for the management and maintenance of the bridge/land since its completion. The (now two) owners of the land are seeking to regularise matters and transfer the land parcels in accordance with the terms of the S106 Agreement.  This will enable them to release the maintenance contribution to the Council, which they have been holding in reserve since 2006.