Decision details

To consider the acquisition of a freehold interest of land in Horley.

RESOLVED that subject to a satisfactory due diligence, the Head of Legal and Governance, in consultation with the Head of Finance & Assets, Leader of the Council, and Executive Members with responsibility for Place & Economic Prosperity, Finance, and Investment & Companies, be authorised to:

a.    acquire the freehold land in Horley, as referred to in the part 2 section of the Executive’s report, as a strategic investment to support the delivery of the Council’s Corporate Plan objectives, and to finalise the Heads of Terms and associated agreements to support the acquisition, in line with the principles and financial requirements of the report.

b.    To fund the acquisition and supporting costs from the funding allocated within the approved Capital Programme for 2019/2024 for investment in capital schemes to support delivery of the Corporate Plan, Housing Strategy and Investment Strategy, as set out in paragraphs 8 and 9 of the part 2 section of the report to the Executive.