Reference: D46316
Decision Maker: Director of City Development
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
Approval to make an acquisition of a property for the Council’s Investment Portfolio.
The Chief Officer Financial Services:
i) Approved the injection to the capital programme as outlined in the confidential report.
The Director of City Development:
i) Authorised the Head of Land & Property to instruct the agent to act on the Council’s behalf as outlined in the confidential report.
ii) Authorised the purchase of the property at the cost outlined in the confidential report.
iii) Approved the authority to spend as outlined in the confidential report.
iv) Agreed that this report is made exempt to Call-In for the reasons set out in paragraph 4.5.6 in the open part of the report.
Reason Key: Expenditure > £250,000;
If exempt from Call-In, the reason why Call-In would prejudice the interests of the Council or the public:: The terms provisionally agreed for the property in the attached confidential appendix have been concluded on the basis that contracts are exchanged before the end of March 2018. Should the sale not complete within the above timescale the Council would be at risk of the purchase price being re-opened for negotiation in open competition with other parties. For this reason it is proposed that this purchase is exempt from Call-in.
Other reasons / organisations consulted
Breifing
Consultees
Executive Member for Regeneration, Transport and Planning
Contact: Mary Stockton, Senior Surveyor 0113 378 7684 Email: mary.stockton@leeds.gov.uk.
Publication date: 23/02/2018
Date of decision: 05/03/2018
Accompanying Documents: