The Leader of the Council delegated authority to the Cabinet to make the following decisions:
RESOLVED: To
1. Agree to a one year extension of the Council’s participation in the Real Lettings Property Fund 1 from February 2022 to February 2023 with a planned sale date of December 2022 for the reasons set out in this report and delegate to the Chief Executive acting in consultation with the section 151 officer and the Council’s Monitoring Officer the authority to agree all necessary documentation to secure that extension; and
2. Agree to the variation of the Limited Partnership Agreement to provide for a winding up period of the fund after the end of its legal term of one year, rather than the current three years, with the effect that the latest possible date for return of capital to Croydon is therefore brought forward from the current position of February 2025 to February 2024.