Issue - meetings

A report from the Director of Finance, Resources and Customer Services is attached. This seeks approval in principle to the sale of various Council properties, as detailed in the report. (Key decision – reference number 4448)

(Report No.173)

(8.20 – 8.25 pm)

Councillor Dino Lemonides (Cabinet Member for Finance and Efficiency) introduced the report of the Executive Director of Finance, Resources and Customer Services (No.173) seeking approval in principle to the sale of various Council properties listed in the Appendix to the report, which were considered in the Council’s best interests to sell, subject to satisfactory further evaluation and consultation, in order to assist in funding capital spending.

NOTED

1.               That this was the eighth in a series of reports to Cabinet since December 2010.

2.               Approval was being sought in principle only at this stage and specific criteria would need to be met in reaching a final decision to sell, as set out in the report.

3.               The list of properties set out in Appendix 1 to the report.

Alternative Options Considered: Retention of property without regular review was clearly not in the Council’s business interests. If property was not disposed of, it would cause a reduction in capital spending or increased borrowing. However, evaluation of individual cases might result in retention being the better option.

DECISION: The Cabinet agreed

1.               That approval be given in principle to the disposal of those properties listed in the appendix to the report.

2.               To delegate the method of sale and the approval of provisionally agreed terms of sale to the Cabinet Member for Finance and Efficiency in consultation with the Executive Director of Finance, Resources and Customer Services.

Reason: Potential disposal of the properties was recommended as being in the Council’s best financial interests balanced against service and community needs.  

(Key decision – reference number 4448)