Issue - meetings

To consider the acquisition of a property in Redhill East.

RESOLVED that the acquisition of the leasehold of the properties and associated delegations and use of funding were not authorised.

Councillor M A Brunt introduced the report and explained that it set out the proposed acquisition of a number of properties in Redhill East with additional information set out in the accompanying confidential report in the exempt Part 2 section of this agenda.

The proposed acquisition would provide an opportunity to support the provision of housing in the borough, and allow for the potential to generate income for the Council, and thereby support the Council’s other services.  It was reported that, having considered the potential acquisition in consultation with the other Members of the Sub-Committee, the balance of the potential benefit against the cost and potential risks, it was considered that there were better alternatives available to achieve the CVESC’s objectives.

RESOLVED that the acquisition of the leasehold of the properties and associated delegations and use of funding were not authorised.

Reason for decision: The proposed acquisition did not provide sufficient benefit in relation to the associated cost and potential risks.

Alternative options: To authorise the acquisition of the leaseholds of the properties and associated delegations and use of funding.

To consider any exempt information in relation to the acquisition of a property in Redhill East.

RESOLVED that the exempt information regarding the acquisition of property in Redhill East was noted. 

RESOLVED that the exempt information regarding the acquisition of property in Redhill East was noted.