Commercial Cabinet Member – Minutes – 14 June 2018

The corresponding report of the following item (Minute 1 refers) contains exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 (as amended).

1 (1) SALE OF COMMERCIAL LAND – The Director: Business Development submitted a report seeking approval for the disposal/sale of 15 acres of land, as detailed in the report, to an inward investor and for entering an agreement for an option agreement on a further 10 acres of land, as detailed in the report; with an inward investor for a 9 month period.

The local authority’s officers had ensured that the financial offer resulted in best value for money for the residents of North Lincolnshire. The council used data from sales within the area and discussed internally with MRICS qualified staff and the price agreement fell in line with valuation of the land and achieved the North Lincolnshire Economic Growth Plan.

The commercial opportunity would also bring with it over 200 new jobs to North Lincolnshire over the next five years delivering highly skilled opportunities for residents and also attracting new people to the region.

Resolved – (a) That the disposal/sale of the 15 acres of development land be approved, and (b) that entry into a 9 month option agreement on the further 10 acres with the agreed sale price be approved.

Where there is no report this is because it is exempt, as it contains information which is considered to be of a confidential nature, as detailed in the Local Government (Access to Information) Act.