[1. Approved the conditional sale of the Council’s long leasehold interest (250 year) in 6.02 hectares (14.88 acres) land at Bilston Urban Village East (outlined in the plan at Appendix 1) to Bidder C which will be due upon obtaining a satisfactory planning consent and clear title. Terms of the sale will be agreed as per Recommendation 3 below.
2. Authorised the Director of Regeneration to agree the terms of conditional sale with an underbidder in the event that the above recommended land transaction with Bidder C does not proceed to exchange.
3. Authorised the Director of Regeneration to negotiate and agree final detailed sale terms (and form of the 250 year lease) in consultation with the Director of Finance and Deputy Leader: Inclusive City Economy and to satisfy the accounting treatments required in the form of the lease.
4. Authorised the Director of Regeneration to instruct external legal advisers, Shoosmiths to negotiate, execute and complete all relevant legal documentation to give effect to the above recommendations.]