Agenda, decisions and draft minutes

The Chair will read out the following statement:

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The Leader said the meeting was being webcast live and would be available for repeated viewing after the meeting has ended. By continuing to attend the meeting, you were consenting to being filmed and to appearing in the webcast.

None.

Councillors’ declarations of interest (if any) in relation to any items on the agenda.

None.

RESOLVED that Cabinet recommended to Full Council that:

A    Delegated authority be given to the Leader of the Council in consultation with the Executive Director responsible for regeneration and property, and the Section 151 and Monitoring Officers, to determine and finalise commercial terms up to a total amount (this being the aggregate cost of the purchase price, SDLT and any corporate liabilities and transaction costs) as set out in exempt Appendix A of this report for the purchase of either:

             i)        100% of the shares of Terminus House (Commercial) LLP and Terminus House Harlow Resi LLP, or

            ii)        The freehold interest in Terminus House, Terminus Street including the existing multi-storey car park, commercial premises and residential units.

B    Delegated authority be given to the Leader of the Council in consultation with the Managing Director, Section 151 and Monitoring Officers, to complete the acquisition of either (i) or (ii) above, following agreement of legal contractual documentation, and completion of company, commercial, legal and property due diligence.

C    Delegated authority be given to the Leader of the Council in consultation with the Section 151 to allocate the required budget for the negotiated price (including associated costs) and to finalise any required capital financing in which the Capital Strategy and Treasury Management Strategy are amended to reflect the capital transaction.

D    The asset be transferred to the Harlow Regeneration Partnership to enable Hill Group to prepare development options to optimise the use of the site.

Cabinet received a report on the Town Centre Strategy.

Proposed by Councillor Dan Swords (seconded by Councillor James Leppard) it was:

RESOLVED that Cabinet recommended to Full Council that:

A     Delegated authority be given to the Leader of the Council in consultation with the Executive Director responsible for regeneration and property, and the Section 151 and Monitoring Officers, to determine and finalise commercial terms up to a total amount (this being the aggregate cost of the purchase price, SDLT and any corporate liabilities and transaction costs) as set out in exempt Appendix A of this report for the purchase of either:

                                 i)         100% of the shares of Terminus House (Commercial) LLP and Terminus House Harlow Resi LLP, or

                                ii)         The freehold interest in Terminus House, Terminus Street including the existing multi-storey car park, commercial premises and residential units.

B     Delegated authority be given to the Leader of the Council in consultation with the Managing Director, Section 151 and Monitoring Officers, to complete the acquisition of either (i) or (ii) above, following agreement of legal contractual documentation, and completion of company, commercial, legal and property due diligence.

C     Delegated authority be given to the Leader of the Council in consultation with the Section 151 to allocate the required budget for the negotiated price (including associated costs) and to finalise any required capital financing in which the Capital Strategy and Treasury Management Strategy are amended to reflect the capital transaction.

D     The asset be transferred to the Harlow Regeneration Partnership to enable Hill Group to prepare development options to optimise the use of the site.