Issue - meetings

Report of the Director of Corporate Resources - To be introduced by the Cabinet Member for Resources): To seek approval for the sale of the freehold of the Olympia Trading Estate to the London Development Agency. To follow

Heartlands Development Phase 1 (Report of the Director of Corporate Resources - Agenda Item 29)

The interleaved report was the subject of a motion to exclude the press and public from the meeting as it contained exempt information relating to the business or financial affairs of any particular person (including the Authority holding that information).

Our Chair agreed to accept the report as urgent business. The report was late because negotiations with the London Development Agency (LDA) had only just been completed. The report was too urgent to await the next meeting because delaying a decision would result in an offer made by the LDA towards the cost of a master plan for Phase 2 of the Heartlands development not being available.

RESOLVED:

1. That approval be granted to the Council entering into an Option with the London Development Agency (LDA) for the disposal of the Council’s the freehold interest in the Olympia Trading Estate to the LDA subject to the conditions set out in paragraph 14 of the interleaved report.

2. That authority to complete and sign off of the final option agreement between the Council and the LDA be delegated to the Director of Corporate Resources in consultation with the Director of Urban Environment, the Leader of the Council and the Cabinet Member for Resources.