Decision details

RESOLVED:

1. That Cabinet approves the freehold purchase of the land known as Tice’s Meadow Farnham at a purchase price of [E-18-21], plus estimated stamp duty land costs of [E-18-21], with legal and site transaction costs of up to a further [E-18-21]. See Annex 1, Draft Heads of Terms.

2. That Cabinet approves the capital investment of [E-18-21]towards this purchase price, which is dependent on receipt of 45% of the purchase price from a consortium of key partners, as previously agreed.

3. That Cabinet delegates authority to the Director of Land and Property and the Executive Director of Resources, in consultation with the Leader and Cabinet Member for Property, to conclude contracts and completion, contingent upon recovering agreed capital contributions from its key partners (as outlined in this Part 2 report indicating 45% towards the agreed purchase price).

4. That Cabinet agrees that Surrey County Council takes over as lead accountable body for the Aftercare and Management Scheme, in partnership with its public sector partners and approved private bodies.

5. That Cabinet notes that Surrey County Council will become responsible for the Aftercare Management Scheme as set out in paragraph 8 in the Part 1 report, and the associated costs noted in this report.

Reasons for Decisions:

See Minute 194/21.

(This item can be called in by the Resources and Performance Select Committee]