Greenwich Council

Decision details.

Disposal of land to and development financing for Meridian Home Start

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

Approved in principle the disposal of the freehold interest in the three Council owned sites listed in this report to Meridian Home Start Ltd (MHS), on the terms set out in sections 5 and 6

 

Approved the loan agreement facility up to £27.6m (including 10% contingency) between the Royal Borough of Greenwich and MHS in accordance with the draw down conditions set out within the loan agreement, as detailed in Appendix 2, section 3.

 

Approved £8.2m Right to Buy (RTB) funding agreement between The Royal Borough of Greenwich and MHS, as detailed in Appendix 2, section 4;

 

Approved in principle the disposal of land classed as public open space land in front of Rochester Way Social Club site to MHS, subject to public consultation on the disposal of the open space land and reporting back to Cabinet any observations received from that consultation;

 

Noted that the public open space will remain as publically accessible open space and will not be built on;

 

Agreed to delegate authority to the Director of Regeneration, Enterprise and Skills to agree further terms or minor revisions to the proposed terms of the Disposal.

 

Agreed to delegate authority to the Director of Finance to agree further terms or minor revisions to the proposed terms of the loan.

 

Noted annual progress reports of the development and operation of the schemes will be provided on a regular basis.

Publication date: 20/04/2017

Date of decision: 19/04/2017

Decided at meeting: 19/04/2017 - Cabinet

Effective from: 28/04/2017

Accompanying Documents: