Decision details

RESOLVED:

That Cabinet, following the evaluation of tenders for buildings insurance for the private leaseholders, mortgage holders and co-owners of equity share properties, show Acumus to be the bidder offering the most economically advantageous terms, and that a contract be let with them for a maximum period of three years and eight months subject to the following:

That the Director of Finance & Resources, in consultation with the Cabinet Member for Finance & Business Services, are to be satisfied with the outcome of consultation with leaseholders which will take place before the approval is implemented.

Reasons for decision

Cabinet gave approval to a tender for the leaseholder, mortgaged property and equity share properties buildings insurance, to commence on 1st April 2010. Cabinet noted that it had an obligation under contract to provide buildings insurance to a portfolio of properties.

Alternative options considered and rejected

Cabinet noted that no viable alternatives were available.

Officer to action:

Simone Batchelor, Finance and Resources

Exempt Information

This report was included in Part II as it contained information relating to the financial or business affairs of any particular person (including the Authority holding that information) and the public interest in withholding the information outweighed the public interest in disclosing it (exempt information under paragraph 3 of Part 1 of Schedule 12A to the Local Government (Access to Information) Act 1985 as amended.