Decision details

Decision:

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.

Background:

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):

• There is a requirement for a policy in this area and the Policy will reflect the executive priorities.
• The process behind the Policy is based upon KCC’s statutory and fiduciary requirements, property disposal management and best practice.
• It will also account for transparency and an even-handed approach
• The policy will be flexible in terms of its implementation though a framework of requirements will be set out to conform to the points above.
• The policy will consider best financial consideration vs. opportunity cost