The Director of City Development and the Director of Environment and Housing submitted a joint report which sought approval to the surrender of existing lease arrangements between the Council, GIPSIL, Canopy and Unity Housing Association, and which also sought approval to delegate authority to the Director of City Development in order to approve terms of new 99 year leases and nomination agreements for the 66 subject properties, at £1 per property per annum.
Following consideration of Appendix 1 to the submitted report, designated as exempt from publication under the provisions of Access to Information Procedure Rule 10.4 (3), which was considered in private at the conclusion of the meeting, it was
RESOLVED –
That the following be approved:-
i) The surrender of existing lease arrangements, as listed in exempt Appendix 1 to the submitted report, between the Council, GIPSIL, Canopy and Unity Housing Association;
ii) That the Council enters into new 99 year leases and nomination agreements for all 66 council owned properties, as listed within exempt Appendix 1 to the submitted report, with GIPSIL and Canopy, at Less Than Best consideration;
iii) That the Council enters into nomination agreements on any new properties acquired by GIPSIL or Canopy;
iv) That the necessary authority be delegated to the Director of City Development in order to approve the terms of the new leases at ‘Less than Best’ consideration, based on a peppercorn rent of £1 per annum per property.