Decision details

(TAKE IN REPORT)

Jo Bennett introduced the report and drew attention to section 3 of the report which gives reasons for the recommendations..  Ms Bennett advised that the report seeks authority subject to a detailed options appraisal to dispose of the site in the event that this option delivers the best return to the Council.  There was a short discussion about the costs that had already been incurred on the site as it had been intended to use it to provide an Adult Social Care facility.  Ms Bennett said that that had not been possible as there was only one tender and that was unsuccessful as it was over budget.  Ms Bennett said that the costs incurred on that exercise were internal costs.  The aim was to complete the options appraisal in a matter of weeks.  In order to move this forward quickly it was recommended that delegated authority is given to the Corporate Assets Development Board in consultation with the Director of Finance to approve and progress the best method of disposal for development or enter into a joint venture.

The Cabinet Member said he would approve the recommendations.

DECISION:

that the Cabinet Member for Planning, Regeneration and Economic Development agreed

(1)  That a detailed options appraisal be undertaken by officers for the site at East Lodge Park to determine the best use of the asset for the Council. This appraisal will include (but will not be limited to) options for care provision and disposal for housing.

(2)  That the approval of the options appraisal be delegated to the Corporate Asset Development Board in consultation with the Director of Finance.

(3)  That following the options appraisal if disposal of the site is the best option that following the marketing of the site the Corporate Asset Development Board in consultation with the Director of Finance, be empowered to select an offer including the method of disposal for development, (including any expenditure required to facilitate the disposal), which could include but not be limited to;

·         Freehold or leasehold sale 

·         Entering a Joint venture arrangement with a third party

(4) The Director of Property, the Director of Finance & Section 151 Officer, and the City Solicitor, be given authority to complete all necessary documentation required to complete the transaction as per (3) above.