Issue details

Delivery of the Council's Capital Receipts programme through the sale of surplus farmland at America Farm, Fengate

 

 

The Cabinet Member agreed to:

 

  1. Authorise the Corporate Director – Growth and Regeneration, to negotiate and conclude terms for the sale of this surplus Farms Estate asset in order to support the Council’s Medium Term Financial Plan (MTFP). The proposal is that the asset is sold by private treaty and terms have been agreed with a Purchaser. The sale of surplus farm assets is included in the Council’s approved MTFP for sale during Financial Year 2016/17; and
  2. In the event that the current proposed sale does not go ahead to authorise the Corporate Director – Growth and Regeneration to determine whether the asset is to be sold by private treaty or public auction and authority to negotiate and conclude terms as appropriate to complete the disposal of this Council owned asset.

Decision type: Non-key

Decision status: Recommendations Approved

Wards affected: East;

Notice of proposed decision first published: 17/03/2017

Anticipated restriction: Part exempt  - View reasons

Explanation of anticipated restriction:
Appendix 1 contains an exempt schedule as it contains information on the price to be paid by the Purchaser which is commercially confidential at this stage. The exempt annex is NOT FOR PUBLICATION by reason of paragraph 3 of Schedule 12A OF Part 1 of the Local Government Act 1972. This is because the information is considered to be commercially confidential until such a point that the sale contract has been completed. The public interest test has been applied to the exempt information and it is considered that the need to retain the information as exempt at this stage outweighs the public interest in disclosing it.

Decision due: April 2017 by Cabinet Member for Resources

Lead member: Councillor David Seaton, Cabinet Member for Finance david.seaton@peterborough.gov.uk

Lead director: Executive Director Place and Economy

Department: Place and Economy

Contact: Jane McDaid, Head of Peterborough Property Services Tel: 01733 384540 Email:  jane.mcdaid@peterborough.gov.uk  jane.mcdaid@peterborough.gov.uk.

Relevant Scrutiny Committee: Growth, Environment and Resources

Decisions