"The Chief Executive outlined the background to the Agreement on the resolution of ‘Priory Hall’. He explained that in line with this Agreement, which was widely welcomed by all parties at the time, the City Council is contractually obliged to dispose of units in Priory Hall which have come into its ownership and to apply the proceeds as provided for in the Agreement.

A key principle underlying the Agreement was an acceptance by all parties at the time that the tenure profile in Priory Hall would not be changed. He warned the Elected Members that the Council cannot unilaterally amend the terms of the Agreement and that any attempt to do so will almost certainly lead to the Agreement unravelling which in turn would expose the Council to considerable costs.

While he was happy to approach the other parties to see if they would be amenable to a higher social housing share in New Priory he could not guarantee that any such approach would be successful."

Councillors amended the report with a roll-call vote, see Amendment 3, and approved it as amended, apparently without a roll-call vote.

It relates to Report No. 244/2016.