Decision details

Consideration was given to the report of the Borough Solicitor.

RESOLVED

For the reasons set out in the report: -

That approval be given to enter into discussions with the current developer on the following basis: -

1. The balance of any renegotiation must rectify so far as possible the weaknesses of the current agreement.
2. External legal advice from Nabarro Nathanson should be obtained on procurement, vires and the drafting of any new agreement.
3. External valuers should be retained to assist with valuation and negotiation.
4. The Audit Commission should be made aware of the position.
5. There must be compliance with proper procurement practices.