Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To recommend that the Council ‘buy-out’ the finance leases for the Leopold Street Ramsgate and Mill Lane Margate, Multi-Storey Car Parks.
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.
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.
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: