Decision

1. Approved, the allocation of £750,000 of funding from the Revolving Capital Investment Fund to support the acquisition of the former Network House site, representing a maximum contribution of up to 50% of the acquisition cost.

1. Approved, that the Chief Operating Officer, in consultation with the Director of City Development and Section 151 Officer, negotiate, complete and execute all legal and ancillary agreements necessary to facilitate the acquisition.

1. Noted, that following acquisition, interim asset management and holding arrangements shall be agreed between the parties prior to completion of the acquisition, with the intention that the Council is not exposed to unfunded holding costs.