Decision details
Asset Disposal Programme 2017-18
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
The report sets out the proposed asset disposals in 2017-18. The Portfolio Holder for Finance and Estates has the authority to approve the disposal of assets, however Cabinet is asked to support proceeding with the disposal of the assets.
Decision:
Cabinet agreed to withdraw from the disposal list, the land adjacent to the Northdown Park (which is maintained by Margate Garden Gate Project).
Cabinet also clarified that the Quarterdeck (which has a 99 year lease that expires in 2063) will be unaffected by the proposed asset disposal.
Thereafter Cabinet agreed the following, subject to the above amendment and clarification:
1. To proceed with the disposal of assets listed in Annex 1 (to the Cabinet report) with sale proceeds being used to fund the asset management and capital programme;
2. To proceed with the transfer of assets listed in Annex 2 (to the Cabinet report) to Parish & Town Councils and eligible Community Groups to ensure their continued use for the benefit of the community;
3. To agree to further investigations being undertaken in respect of further properties to be listed and brought forward for disposal in the future.
Reasons for the decision:
Failure to reduce costs and generate the receipts from disposals could cause the capital programme to be curtailed, leading to reduced investment in assets.
Alternative options considered:
None
Report author: Matthew Hill
Publication date: 28/04/2017
Date of decision: 27/04/2017
Decided at meeting: 27/04/2017 - Cabinet
Effective from: 09/05/2017
Accompanying Documents: