Decision

Resolved (unanimously) that Executive:

i.               Approved the disposal of the freehold land at Fermetol Trading Estate, York to York Central Ltd, on the basis of an external valuation to take place once actual costs are known, and the provision of 37 units of affordable housing, some of which straddle the site boundary of the adjacent lane, already secured by the developer, and which make-up 100% of the housing being delivered on the site.

ii.             Agreed to advertise the proposed appropriation of the open space land to the intended highway use, and delegate authority to the Director of City Development, in consultation with the Director of Finance and the Director of Governance, to conclude the appropriation process in accordance with legislative requirements and subject to any objections received

iii.            Subject to the appropriation of the open space land to the intended highway use to the extent necessary to deliver the proposed pedestrian and cycle access, approved the disposal of the freehold land at Upper Saint Paul’s Terrace to Network Rail, on the basis of an external valuation.

iv.           Delegated authority to the Director of City Development, in consultation with the Director of Finance and the Director of Governance, to negotiate and finalise the terms of the conditional agreements for sale, including the final consideration, provided that final consideration is within the financial envelope set out in this report.

v.             Delegated authority to the Director of City Development, in consultation with the Director of Finance and the Director of Governance to negotiate, finalise and complete all legal documentation required to give effect to the disposals, including the conditional agreement for sale, transfer documentation, survey licence, confirmatory deed relating to the York Central S106 Agreement and any ancillary agreements required.

vi.           Noted that completion of the disposals will not take place until external valuation reports have been undertaken and officers are satisfied that the final consideration is derived from appropriate costs, as identified in respect of the Fermetol Property and that the agreed number of affordable homes are being delivered on the site.

Reason: To support the delivery of York Central and the proposed delivery of affordable housing on the Fermetol Property, while retaining appropriate Council control over final valuation, best consideration, legal terms, financial implications and completion requirements before the land is transferred.