Decision of:

Councillor Owers Executive Councillor for Finance and Resources 

Reference:

15/URGENCY/S&R/06

Date of decision:                             

15/12/2015

Recorded on: 

8/1/2016

Decision Type:

Key Decision

Matter for Decision:

Why the decision had to be made (and alternative options:

The balance payment needed to acquire Cambridge Road Retail Park, Haverhill Suffolk CB9 7GS of £1,000,000 to be funded by capital receipts.

To approve the use of capital receipts to fund the additional expenditure on the acquisition of a commercial property in order to proceed with the acquisition

The Executive Councillor’s decision(s):

To approve that the balance of payment needed to acquire Cambridge Road Retail Park of £1,000,000 is funded by capital receipts

Reasons for the decision:

Scrutiny consideration:

As outlined above and in the report.

The Chair and Spokesperson of the Strategy and Resources Scrutiny Committee were consulted prior to the action being authorised.

Report:

A report detailing the background and financial considerations is not attached as this is confidential by virtue of Schedule 12A Part 3. (Information relating to the financial or business affairs of any particular person (including the authority holding that information)) of the Local Government Act 1972

Conflicts of interest:

No conflicts of interest were declared by the Executive Councillor.

This urgent decision will be reported to the next Strategy & Resources Committee.

Comments:

None