Decision details

RESOLVED:

1.1.         To note the progress made on tranche 1 disposals.

1.2.         To approve tranche 2 of sites for disposals as set out in Appendix 1 of this report together with indicative values in Appendix 1 (exempt appendix) of the Part B report.

1.3.         To delegate authority to the Corporate Director of Resources and s151 Officer to agree, in consultation with the Executive Mayor and Cabinet Member for Finance, the terms and final price for each disposal included within tranche 2.

1.4.         The delegations in this report shall only be exercised following:

i.                 sign off of a business case/ financial assessment by the Corporate Management Team (CMT)

ii.                formal Red Book valuation, if required, on a property to be sold; and

iii.              formal marketing unless there is a clear special purchaser or offer made considerably in excess of the market value.

1.5.         To note that the target value for disposals for tranche 2 is £24.8m and that disposals of tranche 2 assets will commence immediately alongside tranche 1 disposals.

1.6.         To seek approval to commence consultation with the Voluntary Community and Faith Sector (VCFS) on the proposed amendments to the Community Asset Transfer (CAT) Policy set out in paragraphs 4.15 to 4.21 and to delegate authority to the Corporate Director of Resources and S151 Officer, in consultation with the Executive Mayor and Cabinet Member for Communities and Culture, to approve a final amended CAT Policy (Draft in Part A Appendix 3) having considered the feedback provided through the consultation with VCFS organisations.