Agenda, decisions and minutes

Apologies were received from Councillor J Barry.

Members are requested to declare the existence and nature of any disclosable pecuniary interest and/or other interest, not already on their register of interests, in any item on the agenda and withdraw from the meeting at the appropriate time.

None.

To consider any other matter which the Leader is of the opinion should be considered as a matter of urgency, in accordance with the provisions of Statutory Instrument 2012 No 2089, Regulation 11.

None.

The Leader to move:-

That the public be excluded from the meeting during the discussion of the following item of business to avoid the disclosure to them of exempt information as defined in Part 1 of Schedule 12A to the Local Government Act 1972, (as amended by the Local Government (Access to Information) (Variation) Order 2006).  [The category of exempt information is stated after each item].

RESOLVED –

That the public be excluded from the meeting during the discussion of the following item(s) of business to avoid the disclosure to them of exempt information as defined in Part 1 of Schedule 12A to the Local Government Act 1972 (as amended by the Local Government (Access to Information) (Variation) Order 2006. 

Report of Councillor P Kerry, Deputy Leader of the Council

Key Decision                                                                                       (Paragraphs 3 and 5)

RESOLVED –

That Cabinet delegated power to the Managing Director, in consultation with the Leader, to enter and amend any agreements associated with Northwood, to facilitate:

1.               The sale of the Council’s Northwood shares as set out in the report.

2.               Agree the shareholder financial settlement with Woodhead Regeneration, as set out in the report.

3.               Agree changes to existing loan arrangements and associated documents to align repayments as set out in the report and secure outstanding or deferred payments appropriately.

4.               Agree changes to the land sale agreement, as required.

REASONS FOR DECISION – To deliver the original outcomes and outputs as set out in the report.

OTHER OPTIONS CONSIDERED AND REJECTED – These were outlined in the main body of the report.

This is a Key Decision. The call-in period for the decision will run until Tuesday 6 June 2023.

Development Company Update

           The report to Cabinet explained the measures taken in relation to the Council’s Development Company, Northwood, since September 2022. The report also set out specific recommendations on future actions, which Members were asked to endorse. It was explained that an appraisal of options had now taken place. Following on from this appraisal it had become apparent that immediate action would be required to avoid delay and so ensure that the preferred option could be delivered.

           Cabinet discussed the measures which had been taken since September 2022, the specific recommendations for future action which had been proposed and the reasons why they should be progressed. At the conclusion of the discussion Members indicated their support for the proposed approach.

RESOLVED –

That Cabinet delegated power to the Managing Director, in consultation with the Leader, to enter and amend any agreements associated with Northwood, to facilitate:

1.               The sale of the Council’s Northwood shares as set out in the report.

2.               Agree the shareholder financial settlement with Woodhead Regeneration, as set out in the report.

3.               Agree changes to existing loan arrangements and associated documents to align repayments as set out in the report and secure outstanding or deferred payments appropriately.

4.               Agree changes to the land sale agreement, as required.

REASONS FOR DECISION – To deliver the original outcomes and outputs as set out in the report.

OTHER OPTIONS CONSIDERED AND REJECTED – These were outlined in the main body of the report. 

                                                                                                (Paragraphs 3 and 5)

To consider any other matter which the Leader is of the opinion should be considered as a matter of urgency, in accordance with the provisions of Statutory Instrument 2012 No 2089, Regulations 5 and 11.  

None.