Acquisition of 458 Bury New Road, Prestwich - Part B
Councillor Eamon O’Brien, Cabinet Member
for Finance and Housing will report at the meeting. Report attached.
Minutes:
Delegated
decision:
Cabinet agrees to:
- Note the full proposals set out in
Part A.
- Authorise the Director of
Regeneration and Growth to purchase the property.
- Approve the proposal to utilise
‘Investment Property Acquisition Fund’ Approve
borrowing the resources required for this property at an assumed
rate of 2.5%.
- Authorise the Chief Executive,
Director of Regeneration and Growth, Assistant Director of Legal
and Democratic Services (in the role as the Council’s
Solicitor) to negotiate and finalise the detailed arrangements in
respect of the purchase, and to progress the financial and legal
work associated with it;
- Authorise the Director of
Regeneration and Growth to determine the detailed accounting
arrangements for the loan, including the classification between
revenue and capital
- Authorise the Assistant Director of
Legal and Democratic Services (in the role as the Council’s
Solicitor) to enter into any necessary agreements or documents to
give effect to the above recommendations.