Issue - meetings

Report of the Cabinet Member Finance and Assets, Councillor Peter Jeffries

RESOLVED THAT:

1.    the sale of the Municipal Offices to the preferred bidder be approved

2.    the Leader or Deputy Leader, in conjunction with the Deputy Chief Executive (Section 151 officer), is authorised to:

·         conclude negotiations regarding the Heads of Terms

·         enter into an Exclusivity Period which allows for investment in the due diligence process by the preferred bidders

·         instruct solicitors to prepare the sales contract on terms set out in the Heads of Terms

·         subject to successfully passing gate reviews, enter into a formal sales agreement for the disposal (drafted by solicitors in accordance with Heads of Terms)

RESOLVED THAT:

1.    the sale of the Municipal Offices to the preferred bidder be approved

2.    the Leader or Deputy Leader, in conjunction with the Deputy Chief Executive (Section 151 officer), is authorised to:

-            conclude negotiations regarding the Heads of Terms;

-           enter into an Exclusivity Period which allows for investment in the due diligence process by the preferred bidders;

-           instruct solicitors to prepare the sales contract on terms set out in the Heads of Terms;

-           subject to successfully passing gate reviews, enter into a formal sales agreement for the disposal (drafted by solicitors in accordance with Heads of Terms)