Cabinet resolved to:

1.       Delegate authority to the Director of Property and Assets in consultation with the Director of Law, Governance and Strategy, the Group Finance Director, and the Lead Cabinet Member for Finance and Assets to agree the final commercial terms for the Option Agreement as set out in Exempt Appendix 1.

2.       Delegate authority to the Director of Property and Assets in consultation with the Director of Law, Governance and Strategy, Group Finance Director, and Lead Member for Finance and Assets, to approve the final form of the Option Agreement and enter into it on behalf of the Council.

3.       Delegate authority to the Director of Property and Assets in consultation with the Director of Law, Governance and Strategy and the Group Finance Director and Lead Member for Finance and Assets t  to agree the final disposal price for the easement and to ensure that the disposal is compliant with the Council’s statutory duty to obtain Best Consideration reasonably obtainable pursuant to Section 123 of the Local Government Act 1972.