Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Disposal of Land and Buildings
Cabinet considered the report and RESOLVED to approve:
1. That the Council enters into an Option Agreement with Cambridgeshire and Peterborough Combined Authority for the disposal of the freehold land at Nursery Lane Depot at Market Value but subject to all current constraints being resolved, as detailed below and in the exempt annex.
2. That authority is delegated to the Executive Director of Corporate Services and Director of Law and Governance after consultation with the Cabinet Member for Finance and Corporate Governance to take all necessary steps to negotiate the terms of the option agreement following receipt of satisfactory, legal and property advice on the terms of the option agreement.
A new bus depot would enable the Council to achieve a future-proofed, accessible, and sustainable public transport system.
The Council could decide not to agree to the disposal of the site to CPCA but this could risk the grant funding secured and capital receipt programme.
Publication date: 23/03/2023
Date of decision: 23/03/2023
Decided at meeting: 23/03/2023 - Cabinet
Effective from: 29/03/2023