Decision details

The Portfolio Holder for Legal & Estates introduced a confidential report on the assessment of potential strategy options for council property assets and their associated costs. Funding in 2010/11 was being requested to employ consultants to carry out design, valuation and costing of potential development for a number of properties in order for strategic decisions to be made regarding their future use, sale or development. It was highlighted that no decisions had yet been made in respect of any of the sites, but that any future development undertaken would benefit residents and generate revenue for the Council. Some sites were owned by the Housing Revenue Account and therefore their feasibility studies could not be funded by the General Fund. It was emphasised that it would be more cost effective for the Council to use consultants, and that all the feasibility studies should be completed within 2010/11.

Decision:

That a District Development Fund bid in the sum of £135,000 and a Housing Revenue Account bid in the sum of £60,000 for 2010/11 be made to put together feasibility studies for the twelve properties listed within the report.

Reasons for Decision:

To achieve best value and most efficient use of Council property assets.

Other Options Considered and Rejected:

To not investigate the chosen sites. However, the Council would not then obtain information on cost, value and risk from professional consultants upon which to make decisions regarding the properties. It would also mean that the Council could not test the market for capital or rental value or other remuneration such as affordable housing.