DISCUSSIONS will continue on Tuesday (26 January) about the transfer of ownership of Basildon's Town Centre Management company.

A meeting on the Town Centres Revival Committee of Basildon Council will hear a report from assistant director Tomasz Kozlowski about the negotiations between the Council and London-based BTCM Ltd.

The discussion include the Housing Infrastructure Fund (HIF) and Youth Zone projects and the future of town centre administration in the town which are described as being 'well-progressed' with BTCM and with its key shareholders.

members will be told: "Once this review is competed (expected early February) it is anticipated that it will be possible to progress the detailed negotiations for the Council to take a controlling interest and for the Council to undertake the necessary due diligence on the financial and legal status of the company that will be required before transfer of control can be completed.

"This is likely to be complex and may require two to three months' work for specialist advisors."