Issue - meetings

This report has one appendix which contains information exempt within the meaning of Schedule 12A to the Local Government Act 1972 and is not for publication. The appendix has therefore been circulated to Cabinet Members only.

Any discussions on the contents of an exempt appendix will require Cabinet to pass the proposed resolution identified at the end of the agenda to exclude members of the public and the press the proceedings for that discussion.

1.    To note that Appendix 1 is not for publication on the basis that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).

2.    To approve the purchase of the property on Lillie Road named in the exempt Appendix 1 for the total purchase price as set out in the exempt Appendix 1. 

3.    To note that the acquisition is to be funded by a combination of General Fund borrowing and grant from the Greater London Authority, and therefore approve the creation of a capital budget as detailed in exempt Appendix 1.  

4.    To authorise the Strategic Director of Economy in conjunction with the Assistant Director of Legal Services to enter a contract for the sale and transfer deed for the purchase of the property, subject to a positive conclusion to the due diligence process. 

Councillor Francis Umeh stated that with the rise of people sleeping rough it was important to ensure that vulnerable homeless residents had access to supported accommodation, therefore it was vital to acquire the property in Lillie Road. The property was currently a hostel building that had formed part of the Council’s commissioned single homeless and rough sleeping pathway for several years, providing thirteen bed spaces. Following the conclusion of a robust options appraisal the decision to buy this property was the best option available to the Council in the current circumstances.

AGREED UNANIMOUSLY BY THE CABINET MEMBERS:

1.    To note that Appendix 1 is not for publication on the basis that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).

2.    To approve the purchase of the property on Lillie Road named in the exempt Appendix 1 for the total purchase price as set out in the exempt Appendix 1. 

3.    To note that the acquisition is to be funded by a combination of General Fund borrowing and grant from the Greater London Authority, and therefore approve the creation of a capital budget as detailed in exempt Appendix 1.  

4.    To authorise the Strategic Director of Economy in conjunction with the Assistant Director of Legal Services to enter a contract for the sale and transfer deed for the purchase of the property, subject to a positive conclusion to the due diligence process.