Council decisions

Authorisation for the Deputy Chief Executive to approve and complete the Deed of Variation with North London Waste Authority and London Energy Limited to mitigate the impact on the Brent Cross programme.

1.       That pursuant to the decision of the Housing and Growth Committee dated the 25 January 2021 (item 5) that the Deputy Chief Executive be delegated authority in consultation with the Chairman of the Housing and Growth Committee to finalise the mitigation strategy to commence works on site as set out at paragraphs 1.40-1.41 of the aforementioned report and the Deputy Chief Executive having consulted with the Chairman of the Housing & Growth Committee hereby authorises and approves

a)    the issuing of a site notice and releasing the balance of grant funding following the required changes to the Funding Development Agreement with L&Q having been made to enable works on site to be commenced.

That the Chief Executive authorises the completion of the documents for the acquisition of the Brent Cross South Retail Park and associated documentation as listed in paragraph 1.2 of this report (including any other ancillary documentation as required) by the Council and BX Holdings

1.    Where leaseholders meet the Hardship Criteria (Appendix 2), to confirm that the Deputy Chief Executive having consulted with the Chairman of the Housing and Growth Committee may authorise on behalf of the Council the acquisition of all the estate and interest held by each qualifying individual leaseholder on the Whitefield Estate Part 2 (“the Estate Rights”) in Brent Cross South (CPO2) at the new market values.

2.    That any transactions authorised pursuant to 1 above be effected in accordance with the Heads of Terms as shall be agreed in respect of each property and for each acquisition to be supported by a separate COD.

3.    To confirm that the Deputy Chief Executive or such other approved officer be authorised to instruct the preparation of the contracts and other appropriate required documentation for each acquisition in respect of a qualifying leaseholder referred to at 1 above to reflect the Heads of Terms and having regard to the best interests of the Council and to complete the same

4.    To confirm that the Deputy Chief Executive be authorised to proceed to acquire on the basis of the use of Call Option Agreements (“the Option”) in such form as shall be agreed having regard to the best interests of the Council and to enter into and complete the same in respect of any of those residential property owners falling within Whitefield Estate Part 2 in CPO2.

5.    To authorise residential acquisitions in the Whitefield Estate Part 2 by the Council at the updated market values as specified in the summary PCE as attached in the (exempted) Appendix 3.

To authorise the completion of  (a) the surrender of part of Headlease 1 as defined in the Exempt report entered into between the Council and Toys R Us (b) a Deed of Variation  to vary  Headlease 2 (“the TRU Site”)  as defined in the Exempt Report  (c ) the consequential amendments required to the BXS legal documentation to ensure that the TRU Site forms part of the BXS scheme;  and d)  revisions to the Direct Agreement between the council and Homes England (Lender) and to the Legal Charge to include the freehold of the TRU Site.