Decision details

1) To agree the purchase of land.

2) To approve a capital budget for the purchase of land.

(1)   That the Council seek to negotiate with the YMCA to acquire this site. 

(2)   That delegated authority is granted to the Head of Resources in consultation with the Leader and the Executive Member for Resources, to negotiate this purchase, provided it is at a sum no greater than that set out in the exempt report on this matter and subject to confirmation from a qualified valuer that the council is acting on market terms.

(3)   That subject to successful negotiation of a purchase price of less than or equal to the value set out in the exempt report on this matter, that a budget be recommended to Council. The value recommended will be linked to the negotiated purchase price plus stamp duty land tax.

(4)   That subject to successful negotiation and approval of budget, that delegated authority is granted to the Head of Resources in consultation with the Leader and the Executive Member for Resources, to appropriate the site to the Housing Revenue Account for the value set out in the exempt report on this matter, or dispose of the site to its subsidiary company Now Housing Limited or on the open market.