Purpose

To agree any residual land transaction issues relating to ThamesWey Housing.

Decision

RESOLVED

That (i)         the vacant land and properties required for the road (as shown in Appendix 1 to the report) that are currently held in the Housing Revenue Account (HRA) be allocated and appropriated by the General Fund for the purpose of the road construction at a value of £1,800,000 under Section 122(1) of the Local Government Act 1972; and

        (ii)        ThamesWey Housing Limited (THL) leasehold interests in the three development parcels in Sheerwater be acquired for the sum of £4,441,000, through a debt restructure from General Fund to the Council’s Housing Revenue Account (HRA), as set-out in the finance at section 12 of the report.