Decision details

Cabinet were requested to approve a change to a contract that the Council has entered into in order to buy back land at Davies Avenue as part of a previously agreed housing project.

Members considered the alternative option of declining to make any changes to the contract as presented.

RESOLVED that

a)    the Director of Housing and Assets be authorised to sign, on behalf of the Council, a purchase contract with East Midlands Housing Group (EMH) to enable the re-purchase of land at Davies Avenue on the terms outlined in the report;

b)    a proviso be included that should the land remain undeveloped, or the development remain only partially completed, the Council commission an independent valuer to ascertain a purchase price proportionate to the value agreed for the completed contract, including an agreed price for the land.

Reason:

To facilitate the proposed housing project at Davies Avenue as previously agreed by Cabinet.