Agenda item

Exempt Appendix 4 to Report No: COU/SE/18/025

(B)    Exempt Referral from Joint Executive (Cabinet) Committee: 11 December 2018

5.       Exempt Appendix 4 to Report No: COU/SE/18/025: Investing in our Commercial Asset Portfolio (para 3)

Approval was sought in private session for an addition to the Council’s commercial asset portfolio, together with associated funding required.

Councillor John Griffiths, Leader of the Council, drew relevant issues to the attention of Council, including providing the potential benefits of making the purchase, together with the potential risks, which were considered to be effectively mitigated.

An exempt addendum to this Exempt Appendix 4 (Exempt Report No: CAB/JT/18/058) had been previously circulated to Council.  This provided further information on the financial considerations contained in the report.

A detailed discussion was held and support was given to the proposed acquisition, particularly given its location which provided a place-shaping opportunity and was expected to promote economic growth in the area. Council did however, wish to ensure that engagement with local Ward Members on the proposed plans for this site was maintained with subsequent engagement with the general public encouraged as the plans progressed.

On the motion of Councillor Griffiths, seconded by Councillor John Burns, and duly carried, it was

RESOLVED:

That:

The resolution will be published in due course following the lifting of the exemption.