Decision details
Blackfriars and Quayside development sites Equalisation Agreement
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To seek approval for the City Council to enter
into an the equalisation agreement with the Gloucestershire County
Council.
Decision:
RESOLVED:
1. Authority be delegated to the Property Manager in consultation with the Cabinet Member for Regeneration & Economy, to agree terms for an equalisation agreement between the Councils.
2. Authority be delegated to the Property Manager to agree any ancillary documentation that the City Council’s Solicitor considers necessary or desirable to enable the transaction to proceed.
3. The proceeds be distributed on the basis of the percentage of the area that each authority’s site bears to the total area of the combined sites. This has been calculated at 43.45% for the City Council and 56.55% for Gloucestershire County Council. However, this figure may change if either party adjusts the site areas available for development.
Report author: Mark Foyn
Publication date: 08/02/2017
Date of decision: 08/02/2017
Decided at meeting: 08/02/2017 - Cabinet
Effective from: 16/02/2017
Accompanying Documents:
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