Issue details

Update to Lease Acquisition and Underlease Disposal at Red Clover Gardens

 

 

Update to the financial and commercial position to the Red Clover Gardens report presented to Cabinet in July 2023. This report will request entering into contracts with the various Counterparts as the legal due diligence concludes.

 

Decision type: Key

Reason Key: Expenditure > £1,000,000;

Decision status: For Determination

Wards affected: (All Wards);

Notice of proposed decision first published: 10/01/2024

This decision will be taken under urgency procedures.

Reason for urgency:
Commercial sensitivity and a delay could prejudice the Council’s financial interests. Subject to commercial negotiation, exact decision route is still to be confirmed. Cabinet is default, but could possibly be the Mayor or made under existing delegated authority - depending on the details of the negotiation.

Note: General Exception was orginally published on the 10th January 2024 for Cabinet 31st January. The decision taker has been amended to Executive Mayor (was believed needed to go back to Cabinet), and decision now after the 31st January 2024.

Note: Report title has remained the same Update to Lease Acquisition and Underlease Disposal at Red Clover Gardens.

Anticipated restriction: Part exempt  - View reasons

Explanation of anticipated restriction:
Information relating to the financial or business affairs of any particular person (including the authority holding that information.

Decision due: Not before 31st Jan 2024 by Executive Mayor

Lead member: Cabinet Member for Finance

Lead director: Corporate Director of Resources (Section 151)

Department: Resources Directorate

Contact: Huw Rhys-Lewis, Interim Director of Commercial Investment and Capital Email: huw.rhys-lewis@croydon.gov.uk.