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That
1. 
The freehold purchase of the subject property for the value as set
out in Part 2 of this report, be agreed subject to appropriate due
diligence.
2. 
It be agreed that this capital scheme be added to the
Council’s capital programme, financed through external
borrowing.
3. 
It be agreed that a suitable budget be set aside for the ongoing
revenue costs to be incurred as a result
of holding the subject property, once the purchase has
completed. An estimate of these costs is set out in Part 2 of this
report.
4. 
Authority be delegated to the Director of Housing, Planning,
Property and Regeneration in consultation with the Director of
Finance and Director of Children’s Services to agree sales
terms and complete the purchase of the subject property within the
parameters set out within this report.
5. 
Authority be delegated to the Assistant Director of Legal Services
to sign, execute and enter into all necessary legal agreements
together with any associated ancillary documentation required
in order to complete the purchase.
6. 
It be noted that Officers, where possible, will seek external
funding opportunities, including from the Department for Education,
to support with the purchase and operational costs associated with
the children’s home.
7. 
Authority be delegated to the Director of Housing, Planning,
Property and Regeneration to procure and award contracts for any
necessary repair works and submit planning and any other relevant
applications in association with this purchase.
8. 
It be noted that the operational model of the children’s home
will be subject to future reports.