Decision details
Property Investment Acquisition for Income Generation (Confidential)
Decision Maker: District Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Decisions:
The Director for Commercial Services and Income Generation advised that the Executive had previously allocated funding for property investment for income generation. The proposed purchase would gain both a property asset and an income stream from the lease. She responded to Members questions on points of detail.
During discussion, the confidentiality of the proposal was discussed and it was impressed upon Members that the financial details of the transaction should remain confidential.
At the conclusion of the debate, Members unanimously confirmed the recommendations of the report.
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RESOLVED: |
That District Executive:- |
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a. |
approved the recommendation that SSDC acquires a property investment for income generation purposes;
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b. |
authorised the S151 Officer to determine the most economical approach to financing the investment in line with the principles agreed for the Renewables, Property Investment and Development Project Fund;
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c. |
delegated authority to the Director (Commercial Services and Income Generation) and the Director (Support Services) to act on SSDC’s behalf to oversee and complete the property transaction.
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Reason: |
To agree the acquisition of a property investment for income generation purposes. |
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(Voting: unanimous in favour)
Publication date: 06/07/2017
Date of decision: 06/07/2017
Decided at meeting: 06/07/2017 - District Executive
Effective from: 15/07/2017
