Agenda and minutes

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Contact: Peter Thompson 

Items
No. Item

7.

Withdrawal of item of business

8.

Declarations of Interest

    Members are required to declare any disclosable pecuniary, personal or personal and prejudicial interests they may have and the nature of those interests relating to items on this agenda and/or indicate if S106 of the Local Government Finance Act 1992 applies to them.   

    Minutes:

    There were no declarations of interest.

9.

Minutes pdf icon PDF 67 KB

    To consider the minutes of the meeting of the Property Growth Fund Sub-Committee held 24th October 2017.

    Minutes:

    Decision: That the minutes of the meeting of the Property Growth Fund Sub-Committee meeting held on 24th October 2017 be approved as a correct record.

10.

Exclusion of Press and Public

    To consider that the press and public be excluded from the remaining part of the meeting pursuant to Section 100(A)4 of the Local Government Act 1972 on the grounds that discussions may involve the likely disclosure of exempt information as defined in the provisions of Part 1 of Schedule 12A to the Local Government Act 1972 and public interest would not be served in publishing the information.

    Minutes:

    Decision:

    That the Press and Public be excluded from the meeting during consideration of the following three items of business, in accordance with the provisions of Section 100A (4) of the Local Government Act 1972, as amended.

     

    Reason for Decision:

    Should the press and public remain during debate on these items there may be a disclosure of information that is deemed to be exempt under Part 3 of Schedule 12A of the Local Government Act 1972.

11.

Disposal of Sites for Housing Development

Minutes:

The Director of Economy introduced a report seeking approval of an option for the disposal of Council owned sites that are to be used for new-build housing developments.

 

Alternatives considered: A previous tender exercise to dispose of the sites was undertaken in August 2017.  Following the receipt of expressions of interest Members were provided with a number of options for the disposal of the sites including accepting the highest bid, another offer from the submissions; or rerunning the tender process.

 

Decision: That (1) the Council withdraw from discussion with London Capital Asset Management for disposal of the sites;

(2) the disposal of the sites to Countryside Properties, the next preferred bidder, be approved subject to satisfactory agreement on the conditions of sale;

(3) determination of whether to proceed with the sale should Countryside seek to reduce their offer by more than 10%, be delegated to Director of Economy in consultation with the Cabinet Member for Corporate and Finance;

(4) should agreement not be reached with Countryside Properties the tender process be rerun;

(5) the sites be released from the provisions of the Regeneration sites programme approved by Cabinet on 3rd June 2013; 

(6) the Head of Legal be authorised to sign off on any contract and incidental and ancillary documents relating to the disposal or development of sites authorised in accordance with the delegated approval process.

 

Reason for decision: To ensure the disposals are undertaken in a way that maximises the potential capital receipt whilst providing the most likely means for achieving the development of the sites.

12.

Premises on Stakehill Industrial Estate, Middleton

    Director of Economy to report

    Minutes:

    The Director of Economy introduced a report seeking approval for the acquisition of a property of Stakehill Industrial Estate, Middleton from the Property Growth Fund.  

     

    Alternatives consider: To not purchase the site.

     

    Decision: That (1) the acquisition of the site on Stakehill Industrial Estate for the price agreed with the vendor be approved;

    (2) the Assistant Director (Legal, Governance & Workforce) be authorised to complete the legal documentation to complete the purchase;

    (3)  the land and buildings be subject to tax.

     

    Reason for decision: The acquisition of the premises is expected to provide the financial returns in accordance with the requirements of the Property Growth Fund.