Issue - decisions

RESOLVED:

That Full Council agreed to:-

a.

note the contents of the report.

b.

approve the proposal to sell the Councils share in the Joint Venture in the asset named Lufton 2000 on the terms outlined in the confidential appendix to the report.

c.

authorise the Chief Financial Officer to seek the approval of the Somerset County Council to the sale under the Section 24 direction.

d.

delegate the power to the Council’s Solicitor and Monitoring Officer to approve the detail of the sale.

Reason:

To agree the sale of the Council’s 50% share in the Lufton 2000 Joint Venture to its joint venture partner Abbey Manor Developments Limited.