Decision details

To Purchase the Multi-Storey Car Parks

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To recommend that the Council ‘buy-out’ the finance leases for the Leopold Street Ramsgate and Mill Lane Margate, Multi-Storey Car Parks.

Decision:

Cabinet approved the exercise of the options to buy out the leases for the Mill Lane car park, Margate and Leopold Street car park, Ramsgate.

Reasons for the decision:

Buying out the leases will give the council full control of the sites as well as saving taxpayers some £50,000 per year for each car park.

Alternative options considered:

1. Do nothing and continue with the lease

2. Implement the option to buy out the leases

 

The financial and land control benefits favoured option 2.

Report author: Gavin Waite

Publication date: 01/02/2017

Date of decision: 31/01/2017

Decided at meeting: 31/01/2017 - Cabinet

Effective from: 09/02/2017

Accompanying Documents: