Agenda and decisions

Salford City Council - Record of Decision

I Paul Dennett, City Mayor, in exercise of the powers contained within the Salford City Council Constitution do hereby:

1. Approves the revised appraisal (submitted in accordance with the terms of the Agreement for Lease)
2. In line with other recent developments and proposed changes to the council’s affordable housing policies the approval confirms the revised premium for the disposal of the residential development site in accordance with the terms of the Agreement for lease but making an allowance for a reduction on the premium due to the Council under the terms of the Agreement for Lease on the basis of an increased (20%) affordable housing provision
3. Approves the disposal of the freehold interest in the residential development site and approves the alternative mechanisms proposed for that freehold disposal
4. Approves the amendment to the residential development site boundary to include the additional land being the site of the balancing pond.
5. Notes the assignment of the Agreement for Lease to a Special Purpose Vehicle set up for the development and the grant of the lease to the same SPV with the parent company as guarantor
6. Authorises the Shared Legal Service to complete the legal documentation

The reasons are to confirm the previously approved arrangement for the disposal of land at Hill Top Road, Walkden by the former Deputy City Mayor on 10^th October 2013, together with significant improvement works to the adjacent Walkden Cricket Club estimated at over £1.5m, and development of new housing to meet local needs, including affordable provision.

Development of the land remains subject to a planning application being submitted and approved.

Options considered and rejected were – N/a

Assessment of Risk - Low

The source of funding is N/a

Legal Advice obtained – Yes, Michelle Brice (Principal Solicitor)

Financial Advice obtained – Yes, Chris Mee (Strategic Finance Manager)

The following documents have been used to assist the decision process:

Report submitted to Property/Regeneration on 14^th October 2019 

Contact Officer:  Dave Norbury     Tel No: 0161 779 6121

*           This decision was published on Tuesday, 15 October 2019                                             

*           This decision will come in force at 4.00 pm on Tuesday 22 October 2019 unless it is called-in in accordance with the Decision Making Process Rules.

No items