Use of Section 106 monies by Camden Council?

Backdated from previous BA website

It would be good to know that Section 106 money is REALLY used for the purpose it was intended. Should it be used as a premium on a leased building by Camden for example? See example here: http://preview.tinyurl.com/2b44g3 [Open in new window]

Report on LB Camden taking a lease on part of LANGDALES, ST CROSS ST, HATTON GARDEN

Consideration was given to a report of the Director of Culture and Environment.

The officer present tabled an amended version of section 106 and briefly introduced the report for the benefit of Councillor Grauberg. She expressed thanks to all the officers involved for their hard work.

Councillor Brian Woodrow, who was unable to attend the meeting requested that his views as set out in Appendix A appended to these minutes, be noted.



RESOLVED –

THAT approval be given for the Council:

·        to take the lease on three floors of the Langdales building

·        to pay a premium of £135,000 in lieu of rent for 15 year lease utilising Section 106 funds

·        to ring-fence £140,000 of Section 106 funds toward the service charge

·        to delegate the mechanism through which the £140,000 service charge is ring-fenced to Chief Officer approval, in consultation with the appropriate Executive member. In the event that a suitable mechanism for ring fencing the  £140,000 of S106 funds cannot be agreed, to authorise the payment of such sum to Derwent as set out in para. 6.3 of the Report.
            ACTION BY:            Director of Culture and Environment
REASONS

For the reasons set out in the report.

7.        LOCAL GOVERNMENT ACT 1972 – ACCESS TO INFORMATION

THAT the press and public be excluded from the proceedings of the Executive Member for Resources on 7th June 2006 during consideration of item 8 on the agenda on the grounds that it is likely, in view of the nature of the business to be transacted that, were members of the public to be present, there would be disclosure of exempt information as defined in Schedule 12A to the Local Government Act 1972.



Specifically –

Contains exempt information relating to the financial or business affairs of any particular person (including the authority holding that information) and exempt information in respect of which a claim to legal professional privilege could be maintained in legal proceedings.

http://preview.tinyurl.com/2b44g3
[Open in new window]

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