CABINET - Tamworth, Staffordshire



CABINET

|Thursday, 27 November 2014 |

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|REPORT OF THE Portfolio Holder for Economy and Education |

|Golf Course - Disposal of Asset |

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|EXEMPT INFORMATION |

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|PURPOSE |

|To set out the disposal methodology of the former golf course site and to agree in principle the main heads of terms and content of the |

|section 106 agreement that will become part of the sale contract. |

|RECOMMENDATIONS |

|It is recommended that Cabinet approve:- |

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|The use of the Home & Communities Agency’s framework agreement (subject to mini competition) to appoint specialist sales and marketing |

|agents to act on the Councils behalf. |

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|The draft heads of terms attached at appendix one, including the land to be retained within the Councils ownership (plan identified in |

|appendix two) |

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|The draft terms that will become part of the section 106 agreement attached at appendix three, noting that the conditions of sale require|

|the purchaser to sign a s106 agreement based on these terms and finalised through the planning application process |

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|Delegated authority to the Chief Executive, Directors of Assets & Environment/Communities, Planning & Partnerships and Solicitor to the |

|Council in consultation with the Leader and Portfolio Holder to approve all final sale documentation. |

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|Delegated authority to the Chief Executive, Directors of Assets & Environment/Communities, Planning & Partnerships/Finance and Solicitor |

|to the Council in consultation with the Leader and Portfolio Holder to accept the most financially advantageous offer for the asset |

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|the capital receipt be allocated to Capital receipts and held for either future regeneration or invest to save projects, as set out in |

|the Cabinet report 20/02/14 |

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|EXECUTIVE SUMMARY |

|At Cabinet of the 23/01/14 members considered the options appraisal completed for the future of Tamworth Golf Course, and recommended the|

|course was used to undertake housing regeneration, and after planning permission was granted, disposal of the asset to realise this |

|ambition. |

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|A further report to Cabinet on the 20/02/14 approved the finances to progress the project and approved the recruitment of technical |

|specialists. The Cabinet meeting on the 03/04/14 approved the recommended approach for disposal of the site through an unconditional sale|

|following outline planning consent being secured. |

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|This report deals with the disposal process of the asset, the draft heads of terms that will form part of the sale contract, and the |

|contents of a section 106 agreement. |

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|To provide support and expertise in the sale and marketing of the asset it is proposed to use specialists from the Homes & Community |

|Agency panel. |

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|Legal support for the sale process is being provided by specialists from Birmingham City Council using the existing mutual support |

|agreement in place with our legal services. |

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|The heads of terms and section 106 agreement attached as appendices to this report are currently being refined in both scope and content,|

|and to provide robust governance to any amendments it is suggested the group identified in recommendation 4 be set up to oversee and |

|approve any necessary amendments. |

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|The potential capital receipt is difficult to estimate and will be affected by a variety of external factors including market conditions |

|and the requirements for infrastructure provision and other planning requirements such as affordable housing provision. |

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|OPTIONS CONSIDERED |

|None as this report only concerns implementation of the selected disposal method. |

|Cabinet have previously approved the approach to the sale on 03/04/14 based on the options presented in that report. |

|RESOURCE IMPLICATIONS |

|None directly arising from this report, however the disposal will generate a substantial capital receipt |

|LEGAL/RISK IMPLICATIONS BACKGROUND |

|The project documentation includes project and legal risk registers which seek to mitigate identified risks. |

|SUSTAINABILITY IMPLICATIONS |

|The disposal of this asset will allow significant housing regeneration with Tamworth, thus contributing to all corporate objectives. |

|BACKGROUND INFORMATION |

|Cabinet report 23/01/14 |

|Cabinet Report 20/02/14 |

|Cabinet report 03/04/14 |

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