DECISION

1.    To agree that the Land shown on the plan in Appendix 1 to the report, is surplus to the Council’s requirements and approve disposal to Tower Hamlets Community Housing (THCH) on a long lease at a peppercorn rent, subject to a premium payment.

2.    To agree the main terms of the transaction as summarised at paragraph 3.7 of the report and at exempt Appendix 2 to the report.

3.    To delegate authority to the Corporate Director of Place to agree minor variations to the terms and to agree any other terms necessary to conclude the agreement with THCH, including the grant of rights of access across the Council’s retained land.

4.    To delegate authority to the Corporate Director of Place to agree the grant of licences to THCH to carry out any works associated with the development on the Council’s retained land and for the temporary use of the Council’s land to facilitate the construction of a development.

5.    To authorise the Corporate Director of Place to agree to any minor variations to the boundaries of the Land to be sold, in order to implement the recommendations above.

6.    To authorise the Corporate Director of Place in liaison with the Corporate Director of Governance to enter into the necessary legal agreements required to implement the recommendations above

7.    To agree to consider the information at Appendix 2 to the report as exempt under the provisions of section 100A, and paragraph 3 of Schedule 12A of the Local Government Act 1972.

Action by:

CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)

(Divisional Director, Growth and Economic Development (V. Clark)