Fields 516, 517 & 518, La Rue de Patier, St. Saviour: Acquisition: Life-Long Homes

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A decision made 18 December 2012:

Decision Reference: MD-PH-2012-0129
Decision Summary Title:	Acquisition of ‘Life-Long’ Homes on Fields 516, 517 & 518, La Rue de Patier, St Saviour		Date of Decision Summary:	17 December 2012
Decision Summary Author:	Acting Director JPH		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Acquisition of ‘Life-Long’ Homes on Fields 516, 517 & 518, La Rue de Patier, St Saviour		Date of Written Report:	17 December 2012
Written Report Author:	Acting Director JPH		Written Report : Public or Exempt?	Exempt 3.2.1 (a)(x) and (xi)
Subject: Acquisition into States social housing stock of 48 apartments and the acquisition and onward disposal to the Parish of St Saviour of 32 bungalows on Fields 516, 517 & 518, La Rue de Patier, St Saviour. (RFo 50/P/97)
Decision(s): The Minister, in accordance with Standing Order 168(2)(b), agreed the acquisition of the 80 social rented homes and associated land and common parts in accordance with Heads of Terms as set out in the attached report for a total sum of £8,000,000. On practical completion, the 32 bungalows to be resold to the Parish of St Saviour for a total sum of £370,000 plus any accrued fees incurred by the Public associated with the supervision of development.
Reason(s) for Decision: The acquisition has been approved by the Minister for Housing (MD-H-2012-0108 refers). The acquisition price is within the funding ceiling approved by the Minister for Treasury and Resources (MD-TR-2012-0087) and can be contained within funds previously approved for this purpose by the States (P40/2012 refers). Under Standing Order 168(1)(a) the Minister is obliged to notify the States that he has accepted the recommendation of Jersey Property Holdings to agree the above land transaction.
Resource Implications: The Housing Department can contain the net purchase cost with funds previously approved under P40/2012.
Action required: In accordance with Standing Order 168(3) this decision must be presented to the States at least 15 working days before the contract is passed. After the expiry of 15 working days following presentation to the States the transaction may be concluded.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: