Issue - meetings

Property Joint Venture - Award of Preferred Bidder

Meeting: 14/07/2020 - Executive (Item 80)

80 Property Joint Venture - Award of Preferred Bidder

Award of the preferred bidder following procurement.

Minutes:

RESOLVED that

 

       i.          Bidder A be approved as the “Preferred Bidder” for the Council’s property joint

venture partnership and authorise the Director: Resources and the Borough

Solicitor to finalise the necessary contractual agreements on such terms as

best protect the Council’s interest.

 

      ii.          The contents of the delegation policy set out in Appendix E to be incorporated

in the partnership Members’ Agreement, subject to any non-material changes

agreed by the Director: Resources and the Borough Solicitor as part of

finalisation of the contractual agreements;

 

     iii.          The incorporation of the Bracknell Forest Limited Liability Partnership (“LLP

Joint Venture”) with the Preferred Bidder following the execution of legal

contracts;

 

RECOMMENDED that

 

    iv.          funding be made available as required to support the Council’s 50% investment in the joint venture, with requirements for individual site development to be agreed as part of the Executive and Council’s consideration of the initial JV business plan later this year.


 

Contact Information

Democratic services

Email: committee@bracknell-forest.gov.uk