Agenda item

A report from the Executive Director – Resources is attached.  (Key decision – reference number 5701)

(This item contains exempt information as defined in Paragraph 3 (information relating to the financial or business affairs of any particular person – including the authority holding that information) of Schedule 12A to the Local Government Act 1972, as amended).

Cllr Nesil Caliskan (Leader of the Council) introduced the report of the Executive Director – Resources, seeking agreement to dispose of the property assets identified in the appendix to the report. Each site would be marketed accordingly, depending on the type of property, and this would be a competitive process to secure a winning bid. Officers gave assurance of full due diligence, and that value of assets would be maximised.

In response to Members’ queries, it was confirmed the receipts generated from the caretakers’ house sales would be ringfenced so as to remain within Education and to be used to develop special educational needs provision.

DECISION:  The Cabinet agreed to:

I. Agree that the Council proceeds with the disposal of the property assets listed in the table contained in both the appendix and confidential appendix (which includes receipt estimates) to the report at the earliest opportunity (subject to appropriate due diligence investigations).

II. Delegate authority to the Cabinet Member for Finance and Procurement in consultation with the Executive Director of Resources and Director of Property (and otherwise in accordance with the Council’s Scheme of Delegation) to market and finalise terms of sale with successful bidders in order to achieve best consideration.

The report sets out the options considered, if any, and the reasons for the recommendations and the decision.