Issue - meetings

Report of Corporate Manager, Finance and Asset Management (copy herewith)

The Director for Governance Resources and Improvement submitted a report that set out the first stage of a review of the Council’s Property Portfolio and initial disposal programme for the sites identified.  The idea behind the review was to consider the best use of the Council’s assets and the community benefits that may derive from development.  Nine sites were identified for disposal in February 2007.  Concern was expressed in respect of two additional sites upon which further discussions with the Regeneration Team would take place.  It was noted that the former WC in Cattlemarket Road was not listed or connected to Southbridge. 

Councillor Hadland commented that it was right for all assets to be investigated and the balance between disposing for development and its community asset value needed to be assessed.

RESOLVED: (1) That the creation and updating of a capital receipt strategy to include the identification assessment, valuation and disposal of Council assets to be programmed over a three year period and beyond be agreed.

                        (2) That the disposal of the nine sites identified in Appendix 1 of the report as a first phase of implementing the Strategy in a manner to be determined by the Director of Governance, Resources & Improvement with the cost of external surveyors and legal services being funded from capital receipts be approved.

                        (3) That the proposed second phase property reviews identified for potential future disposal are outlined in Appendix 2 be noted.