Issue - meetings

This report will not be published because the meeting is likely to be closed to the press and public in view of the nature of the business to be transacted/nature of the proceedings.  The report deals with information relating to the business affairs of the Council and information in respect of which a claim to legal professional privilege could be maintained in legal proceedings and the public interest in maintaining the exemption currently outweighs the public interest in disclosing the information

The Council received and considered the report (exempt from publication at the date of the meeting) of the Head of Property regarding the acquisition of a commercial property.

It  was MOVED by Councillor Eber Kington and SECONDED by Councillor Clive Smitheram that:

“The Council:

(1)          Note the Acquisition Business Case attached as an Annexe to the report and authorise the necessary loan to, and investment in, the Company to enable the Company to purchase the property referred to therein to enable sale contracts to be exchanged forthwith;

(2)          Agree for the Company to opt to tax the property for the purposes of VAT;

(3)          Delegate authority to the Acting Director of Finance and Resources to conclude any final Council loan arrangement details to enable purchase of the property by the Company”

Upon being put, it was RESOLVED, there being 21 members in favour and 2 against, that:

(1)          the Acquisition Business Case attached as an Annexe to the report be noted and the necessary loan to, and investment in, the Company be authorised to enable the Company to purchase the property referred to therein to enable sale contracts to be exchanged forthwith;

(2)          the Company should opt to tax the property for the purposes of VAT;

(3)          authority be delegated to the Acting Director of Finance and Resources to conclude any final Council loan arrangement details to enable purchase of the property by the Company