Purpose

To agree the disposal of vacant housing land
to ThamesWey for the Yellow phase of the regeneration
project.

Content

The
Executive Resolved

That  (i)   
theCouncil transfers the vacant Housing land, as listed
in Appendix 1 to the report, to ThamesWey Developments Limited for
the agreed sum of £2,437,562 (inclusive of the reimbursement
of £525,300 of costs incurred in compensating tenants);
and

         
(ii)   it be noted that an application
will be submitted to the Secretary of State under Section 32 of the
Housing Act 1985 to complete the remaining property exchanges
between ThamesWey Housing Limited and the
Council.

Reason:   The
land transfer is required to allow for the
completion of the Yellow phase of the Sheerwater Regeneration
project, delivering a total of 187 new homes and new retail
units.