EDDC Executive Board press release re Tesco/Sainsbury

This is the press release issued today after EDDC debated last night the issue of whether to enter into an exclusive relationship with Tesco, an item which had been deferred from January 2008:

On the advice of the District Valuer, East Devon District Council is obliged
to gain best value from the assets that it owns. In the case of the
Council's land-holding at Seaton, this means we must ensure that we obtain
the best possible value either in monetary terms or in equivalent benefit
for the community.

Based on this advice, members of the Executive Board agreed that the council
will continue to negotiate with both Tesco and Sainsburys until such time as
a clearer picture emerges as to which of the commercial proposals represents
best value for the community.

Both companies are already aware that EDDC, in its capacity as a land-owner,
is obliged to act in this way and they will therefore continue to work up
their ideas with a view to presenting these to the Council in due course.