Decision Maker: Cabinet Member for Resources
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
This report follows the IEDN in February 2021
that gave approval for the Council and its JV partner,
Staffordshire County Council to enter into an Exclusivity Agreement
with an interested Third Party for the potential sale of the
northern portion of the i54 Western Extension site. This report
provides an update of work undertaken during the Exclusivity Period
and seeks approval to enter into a land sale agreement for the
disposal of land that is subject to the Exclusivity
Agreement.
Decision:
- Approved that the City of
Wolverhampton Council as direct landowner and its JV Partner
Staffordshire County Council enter into a Land Sale Agreement with
a third party (on the terms detailed in this report) for the
northern portion of the i54 Western Extension (South) site
measuring 24.7 acres as shown in Appendix 1.
- Approved the extension of the
existing Exclusivity Agreement with Third Parties which expires on
30 November 2021 to 28 February 2022 to cater for any potential
slippage in the programme.
- Authorised the Director of
Regeneration to instruct external legal advisers, Eversheds to
negotiate, execute and complete all relevant legal documentation to
give effect to the above recommendations.
Publication date: 03/12/2021
Date of decision: 23/11/2021
Restricted enclosure View reasons restricted