Issue - meetings

                 Report of the Chief Executive

Cllr Phil Alford, Cabinet Member Housing, Strategic Assets and Asset Transfer presented a report which provided detail about (i) capital receipts targets for the last year and the target for the next two financial years; and (ii) confirmed the freehold interest in 4 assets to be declared surplus and reviewed to determine the best financial return for the Council.

Cllr Alford was pleased to report that capital receipts had surpassed forecasts by £718,478, which in turn would support the business plan and the Medium Term Financial Strategy.

Cllr Ian Thorn congratulated the Cabinet member for achieving a surplus and asked for further information about the adjoining development to the Housing Revenue Account (HRA) land in Hindon and whether the HRA strip of land at this location was a ransome strip. The Leader asked officers to provide a written response.

Resolved:

·       That Members note the position in respect of disposals for financial year 2021/22 and the projected receipts for 2022/23.

·       That Members confirm that freehold interest of the 4 assets can be sold to either generate capital receipts in support of the Council’s capital programme or reused to generate income or service delivery, community or strategic outcomes for the Council.

·       Where the decision is to dispose, authorise the Director for Assets and Commercial Development to dispose of the freehold interest in the assets or in his absence the Corporate Director Resources.

Reason for decision:

To note the current position in respect of capital receipts and the targets for the financial years 2021/22 and 2022/23 and confirm the freehold interest in the 4 assets can be sold to generate capital receipts, after a review of the options to determine how the best overall interest of the Council can be achieved.