Notice of General Exception - Approval of steps to comply with the Indemnity Land Transfer Agreement (ILTA) and Escrow agreement for the settlement of Compulsory Purchase Order (CPO) compensation with L&G
May 30, 2024 Corporate Director of Sustainable Communities, Regeneration & Economic Recovery (Officer) Key decision Approved View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
...to release compensation money from the Escrow account to settle the compensation claim with both L&G and ReAssure Limited, as detailed in the Part B report, in order to comply with the Indemnity Land Transfer Agreement (ILTA) and Escrow agreement for the settlement of the Whitgift Compulsory Purchase Order (CPO) compensation.
Full council record
Purpose
The report will recommend the
settlement of the outstanding compensation claim from L&G
regarding the Whitgift Compulsory Purchase Order (CPO), and
approval of steps to comply with the Indemnity Land Transfer
Agreement (ILTA) and Escrow Agreement, including ability to draw
down from the existing Escrow account.
Content
Resolved to:
Agree to proceed to release compensation money from the Escrow
account to settle the Compensation claim with both L&G and
ReAssure Limited, as detailed in the Part B report.
Supporting Documents
Details
| Outcome | Recommendations Approved |
| Decision date | 30 May 2024 |