Issue - meetings

Recommendation

That the variation of restrictive covenant proceeds on terms to be agreed by the Corporate Director (Resources) in consultation with the Executive Member for Finance and Resources.

Considered – A report of the Corporate Director Resources requesting approval for variation of a restrictive covenant and overage provision which was applied to land at Sherburn in Elmet when it was sold by the Council.  Under the terms of the restrictive covenant should the land be used for non-agricultural development an additional capital receipt would be due to the Council and exempt Appendix 1 set out a summary of the financial implications of the variation.

(Minute dealt with in exempt session)

(Councillor Mark Crane declared an interest in the item on that basis that he was a Member of the Selby and Ainsty Area planning Committee and left the meeting during consideration of the item)

Resolved

That the variation of restrictive covenant proceeds on terms to be agreed by the Corporate Director (Resources) in consultation with the Executive Member for Finance and Resources.

Reasons for recommendation

This variation will generate a capital receipt for the Council which will enable re-investment into other key areas of the council’s priorities via the Capital Programme.

Alternative options considered

No other options are currently available in relation to this property as NYC is not the property owner and the interest the Council has in the site is limited.