Decision details

Proposed decision:  Further to Decision No. 15/00109, to authorise the Director of Infrastructure, in consultation with the Cabinet Member for Corporate and Democratic Services, to progress with disposal of the identified sites as part of the East Kent Property Portfolio, and enter into any necessary agreements. 

The acquisition and subsequent sale of the property will secure a capital receipt to fund the capital programme and is consistent with the principles of the Property Investment Fund.

Financial Implications:  An allocation of funding already approved from the Property Investment Fund to allow acquisition of the property.

Legal Implications: KCC Legal Services have been and will continue to be fully involved throughout the proposed purchase and sale and the transaction will not be effected without their approval.

Equalities Implications: N/A

 The Property Investment Fund is identified in the Medium Term Capital Programme

As Cabinet Member for Corporate & Democratic Services, I agree to, and delegate authority to the Director of Infrastructure, in consultation with the Corporate Director of Finance and Procurement and the Cabinet Member for Corporate and Democratic Services, to:

1. Proceed with the proposed simultaneous purchase and sale of the property, in accordance with the contents of the report to the Property Sub-Committee meeting on 8 July 2016;

2. Finalise the terms of the proposed transaction; and

3. Enter into any necessary documents to effect the proposed transaction.