1)    That the appropriate point at which the value of the land will be determined, is set out in the detailed sale agreement, and dealt with by way of a deferred consideration. The agreement and detailed disposal terms will ensure that best value and compliance with the General Disposal Consent Order are achieved.

2)    That the detailed disposal terms have been finalised and therefore agreed.

To implement and comply with the decision made by the Cabinet on 10 January 2023.

None.

This decision will be implemented immediately.

At a meeting of the Cabinet on 10 January 2023, the following decision was made:

1.    That the decision of the Council on 8 October 2020 as set out in minute 159/10/20 (iv) be replaced with the following and in accordance with the current Policy Framework which gives Cabinet the power to make this decision;

2.    That the disposal of the freehold interest of the land at Collaton St Mary, as set out in Appendix 1, be transferred, to TorVista Homes or a company wholly owned by the Council, be approved; and

3.    That the Chief Executive be given delegated authority in consultation with the Cabinet Member for Finance to determine the appropriate point at which to value the land, as set out in Appendix 1, ensuring best value and compliance with the General Disposal Consent Order and agree and finalise any detailed disposal terms with the Cabinet Member for Economic Regeneration, Economy and Tourism and the Director of Finance.

Having negotiated the detailed disposal terms and consulted with the relevant Cabinet Members and the Director of Finance the Director of Strategic Projects in the absence of the Chief Executive has finalised and agreed detailed disposal terms.

None.