Issue details
RULE 16 Extending Cabinet delegation to enable Property disposal of Riverside and Loan to ACL
The Cabinet Member Patrick Anketell-Jones for Economic Development is requested to exercise Rule 16, special urgency rule, to enable officers to progress with the transfer of a lease and the making of a loan to Aequus Construction Limited (a wholly owned subsiduary of Aequus Developments Limited) to enable the development of Riverside to proceed without further delay.
Decision type: Key
Decision status: Approved
Notice of proposed decision first published: 23/06/2017
This decision will be taken under urgency procedures.
Reason for urgency:
The rationale for the decision is to enable the progression of the Riverside development and to ring fence risk and maximise returns to the council through an improved VAT and Corporation Tax position.
The decision is being made in accordance with Rule 16 of the Council’s constitution. It would generally be a Cabinet decision but to enable the proposed development to proceed it is necessary to use the Council’s urgency procedure.
The urgency arises as a result of the increased costs to the Council caused by any delay to the development timetable.
Decision Type: Key Decision;
Decision due: 23 Jul 2017 by Cabinet Member - Economic Development
Lead director: Strategic Director - Resources
Contact: Michael Hewitt, Head of Legal and Democratic Services and Monitoring Officer Email: Michael_Hewitt@bathnes.gov.uk Tel: 01225 395125.
EFP Reference: E2987
Decisions
Documents
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