Decision details

1)    That approval be given to the disposal of 103 New Street to SKA properties, or a Special Purpose Vehicle created by SKA properties, on the terms as set out in the (exempt) appendix to the report (Agenda Item 20), to facilitate the redevelopment of the property.

2)    That it be agreed that a loan be offered from the Property Investment Fund up to the amount as set out within the (exempt) appendix, to support the redevelopment of 103 New Street, subject to due diligence being carried out.

3)    That the Strategic Director (Economy and Infrastructure), in consultation with the Cabinet Member – Corporate Services, having sought appropriate advice from the Service Director (Legal, Governance and Commissioning), and the Acting Service Director (Finance), be authorised to carry out appropriate due diligence on the proposal to offer a loan from the Property Investment Fund.

4)    That the Service Director (Legal, Governance and Commissioning), be authorised to enter into any documentation required to agree the Property Investment Fund loan and to protect the Council’s position as lender.