Proposed Acquisitions (Minute EXB 150 refers)
Executive Board considered the attached Part II report.
RECOMMENDED: That Council approve the allocation of Capital Funding, not exceeding £235k, to acquire the sites outlined in the report.
Additional documents:
Minutes:
Executive Board had considered the report of the Strategic Director, People and Economy, on the proposed acquisition of land and property in Widnes, as set out in the report.
RESOLVED: That the allocation of Capital Funding, not exceeding £235k, to acquire the sites outlined in the report, be approved.
Proposed Acquisitions
Additional documents:
Minutes:
The Board considered a report of the Strategic Director, People and
Economy, which sought approval for the acquisition of a number of sites, as set
out in the report.
The Board was advised that in 1999, the Council had entered into a Joint
Venture Agreement with the development company St Modwens.
Widnes Regeneration Limited (WRL) was formed and over the next twelve years WRL
made a significant impact in supporting the regeneration of Widnes. However, it
was reported that the partnership had become dormant and St Modwens
had worked with the Council to wind up the Company.
It was reported that an agreement had been reached to acquire a package
of sites, as detailed in the report, subject to contract and Executive Board
approval. The report provided a brief rationale for the purchase of each site.
RESOLVED: That
1)
the
purchase of the three sites as set out in the report, be agreed;
2)
the
Operational Director, Economy, Enterprise and Property, be authorised to arrange
for all required documentation to be completed to the satisfaction of the
Operational Director, Legal and Democratic Services; and
3)
Council
be recommended to approve the allocation of Capital Funding, not exceeding
£235k, to acquire the sites outlined in the report.