The Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services to agree to:
1. adopt the Freehold Property Assets Disposal Policy, which reflects the Executives priorities in the delivery of the Council’s objectives; and
2. implement the necessary disposal process, which implements the policy within the framework, as set out under the property management protocol in the constitution.
Reason for the decision:
A policy is required to support the Disposals Programme over the next 5 years which reflects the executive priorities in the delivery of the Councils objectives. This will ensure that Kent County Council’s (KCC’s) disposal assets are treated in the interests of KCC’s key priorities and reinvestment requirements and will facilitate consistent and transparent decision making in respect of the disposal assets. The policy should overcome challenges that can hinder the efficient disposal of KCC assets and may result in savings in terms of resource deployment and holding costs.
Once KCC’s freehold assets are declared surplus, they are sold / disposed of into new ownership. The majority of the disposal process is governed by KCC’s statutory and fiduciary duties, and its constitution. However, elements of the process and how offers are evaluated are subject to a degree of discretion. The adoption of the Freehold Property Assets Disposal Policy seeks to set out the executive’s priorities and how these will be considered as part of any disposal process.
Options (other options considered but discarded):
Decision type: Key
Reason Key: Affects more than two Electoral Divisions;
Decision status: Recommendations Approved
Notice of proposed decision first published: 31/05/2022
Decision due: Not before 29th Jun 2022 by Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services
Reason: in order that the proposed decision can be published for a minimum of 28 days, in accordance with statutory requirements
Lead member: Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services
Lead director: Rebecca Spore
Department: Strategic & Corporate Services
Contact: Mark Cheverton, Property Strategy and Policy Manager Phone number: 03000 415940 Email: email@example.com.
The proposed decision was discussed and endorsed by the Policy and Resources Cabinet Committee on 4 May 2022.
Financial implications: The Policy reflects the executive priorities so that alongside financial capital return, disposals can benefit the wider community sector. Opportunity cost evaluation will be undertaken where this can demonstrate a tangible reduction in the costs of KCC statutory services, so the final disposal decision will be based on the offer that presents the best financial return to the Council. The policy prioritises KCC’s capital programme requirements, but it does not exclude the consideration of other social and community benefits particularly where there is the opportunity for savings, budget reallocation and additional created value.
Legal implications: The policy takes account of KCC’s statutory and fiduciary duties and requirements in terms of transparency and even-handedness.
Equalities implications: No negative EQIA implications.