Decision details

To transfer the Fort Road Hotel from general fund to housing revenue account and to agree the budgets for the development of the property into housing.

Cabinet agreed the following:

1.  To transfer the Fort Road Hotel from the general fund to the housing revenue account;

2.  To allocate the property for housing purposes;

3.  The use of HRA balances and 141 receipts where appropriate to undertake the development works up to £950K;

4.  The use of repairs reserve to fund the General Fund costs already incurred prior to transfer.

To allow the property to be developed using HRA resources.

The property has been in the general fund for 5 years and opportunities for the development of the property for general fund purposes has been fully explored and market tested and to date no suitable scheme has been presented. Keeping the property in general fund was rejected due to the lack of feasible and appropriate schemes that have been put forward.