To authorise the Director of Property in consultation with the Cabinet Member for Corporate and Democratic Services to finalise terms of the property disposal and enter into any agreements to finalise the transaction.
The site has been identified as surplus to the Council’s requirements and releasing this site will secure a capital receipt to fund the capital programme and to streamline the Council’s property portfolio to achieve financial and efficiency benefits in line with appropriate policy
Financial Implications: Property holding costs will cease upon sale and capital receipts will be available to support the Council’s Medium Term Capital Programme
Legal Implications: None
Equality Implications: None
The need for capital receipts is outlined in the Medium Term Capital Programme
Decision type: Key
Reason Key: Expenditure or savings of more than £1m;
Decision status: Recommendations Approved
Division affected: Ramsgate;
Notice of proposed decision first published: 11/07/2016
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
The sale price, buyer and other financial information of a commercially sensitive nature will be contained in a separate report, exempt from publication under paragraph 3 of Schedule 12a of the Local Government Act 1972
Department: Strategic & Corporate Services
Consultees
The matter was discussed and the proposed decision endorsed by the Property Sub-Committee on 8 July 2016.
Financial implications: Rebecca Spore Director of Infrastructure rebecca.spore @kent.gov.uk
Legal implications: 16/00063