Issue details

Summary

This report will request the granting of delegated authority for theauthorisation of requests to grant Guarantor and Parent Company Guarantees on behalf of the Council in order to enable exchanges to progress on a number of sales by Medway Development Company.

Access to Information

The report together with any other documents being considered (unless they contain exempt information) would ordinarily be available for inspection 5 clear days before the decision is taken by the Cabinet. Copies are available on the Council's website or requested from Democratic Services Medway Council, Gun Wharf, Dock Road, Chatham, Kent, ME4 4TR or email democratic.services@medway.gov.uk. If you wish to submit information to the Cabinet about the item please also contact Democratic Services. On this occasion it has not been possible to provide 28 clear days’ notice, nor 5 clear days’ notice, therefore Section 11 (Cases of special urgency) of the Local Authorities (Executive Arrangements)(Meetings and Access to Information)(England) Regulations 2012 and Rule 17 (Special urgency) of the Council’s Access to Information Rules, as set out in the Constitution, have been complied with. The Chairman of the Business Support Overview and Scrutiny Committee has agreed that the taking of these decisions are urgent and cannot be reasonably deferred until the next Cabinet meeting on 10 May 2022. This is to enable exchanges to progress on a number of sales. The sales undertaken on the Garrison Point scheme being delivered by Medway Development Company (Land and Projects) Ltd. have progressed at pace and this decision is needed to complete exchanges as soon as possible.