Issue - decisions

Resolved:  The Executive agrees:

                                 (i)       That subject to Full Council having approved on 20 July 2017 a capital budget of £15 million to make a strategic acquisition of a mixed commercial portfolio in York city centre; 

                               (ii)       To delegate to the Director of Customer and Corporate Services authority to complete the acquisition of the freehold of Swinegate Court provided that the findings of the due diligence process do not undermine the purpose of the acquisition; and

                              (iii)       To authorise the funding of the acquisition of the asset referred to in (ii) above and all related costs from the capital budget referred to in (i) above.

Reason:        To ensure the ongoing economic vibrancy of the city centre and increase the income from the council’s commercial property portfolio in order to achieve budget targets.