The reasons for urgency were agreed.

The exempt appendix to the report was noted.

DECISION

1.    To note that the Council land at Ailsa Street, Lochnagar Street and Bromley Hall Road E14, as shown on the plan at Appendix A to the report, was confirmed by Cabinet as being surplus to the Council’s requirements in November 2017.

2.    To agree to the disposal of the Council’s freehold interest in the Council land to London River Lea One Ltd on the terms set out in the report.

3.    To authorise the Corporate Director of Place, to agree to any subsequent minor or favourable variations to the terms and the precise boundaries of the Council land to be sold, in order to implement the recommendation above.

4.    To agree to delegate authority to the Corporate Director of Place to decide whether the Council will acquire the affordable housing units to be provided within the scheme and whether to acquire a further 5% of the total number of units provided, for use as additional affordable housing, or to meet other housing objectives.

5.    To agree to delegate authority to the Corporate Director of Place to agree the terms for both of the acquisitions mentioned in recommendation 4 above.

6.    To authorise the Corporate Director of Place of to agree to any subsequent minor or favourable variations to the terms and the precise boundaries of the land to be sold, in order to implement the recommendations above.

7.    To authorise the Corporate Director of Place, to enter into the necessary legal agreements required to implement the recommendations above.

8.    To note the equalities considerations as set out in section 7 of the report.

Action by:

CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)

(Acting Divisional Director, Property and Major Programmes (R. Chilcott)