Issue - meetings

Cabinet was advised to agree that the Council buy-out the leases for the Mill Lane, Margate and the Leopold Street, Ramsgate car parks. These leases were ‘finance leases’ which were put in place, to fund the construction of the two car parks in the 1970s.

Buying out the leases would give the Council full control of the sites, as well as saving the council taxpayers some £50,000 per year for each car park, which would contribute toward the budget strategy. The option to buy out the leases could be exercised in 2017 for Mill Lane and 2020 for Leopold Street.

This was considered to be a viable proposal and Members were asked to note that Cabinet had the final say on the matter without the need to refer the issue further to Full Council.

The following Members spoke under Council Procedure Rule 20.1.

Councillor K. Gregory;

Councillor Campbell;

Councillor Game.

Councillor Townend proposed, Councillor Stummer-Schmertzing seconded and 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.