Decision details

To seek approval to transfer Council owned land to Fenland Future Ltd at market value to enable development to progress as agreed by the Investment Board.

Members considered the Land Transfer – Wisbech and Chatteris report presented by Councillor Boden.

Councillor Mrs French said she welcomed this report; we have been talking about this land in Wisbech for years so hopes that when it is transferred, something happens with it.

Proposed by Councillor Boden, seconded by Councillor Hoy and Cabinet AGREED to:

·         approve the land transfer of FDC owned land at The Elms, Chatteris at the value of £200,000 to FFL as determined by the independent red book valuation in Appendix A;

·         approve the land transfer of FDC owned land at Nene Waterfront, Wisbech at the value of £1 to FFL as determined by the independent red book valuation in Appendix B; and

·         instruct the FDC Legal Team to prepare land transfer documents.

(Councillor Boden, Councillor Tierney, and Councillor Benney declared their membership of the Investment Board but stated they were not predetermined and would keep an open mind).