Decision details

To update Members on the Disposals and Acquisitions Policy including an amendment to the Policy.

i.  Endorse the continuation of the disposal and acquisition thresholds for land and property as previously approved by Council in July 2015; and

ii.  Approve a revision to the Policy as follows:

‘When land is disposed of within a Town or Parish Council area and where there is no likelihood of any consequential development funding returning to the Parish Council (e.g. Community Infrastructure Levy or S.106), that following disposal the Parish Council receives 10% of any capital receipt received by the Council, subject to agreement by the Cabinet’.

To continue to support the Council in achieving the Commercial Investment Strategy.

None considered.

Sharing capital receipts with Town or Parish Councils was not expected to be significant sums. However, any reduction in net capital receipts reduces the amount of financing available to the Council for future capital investment or debt redemption.