Issue - meetings

(a)  That the contents of the report be noted;

(b)  That Cabinet agrees with the principle that the Council, as a first resort, will seek to fund its future known capital programme needs through the annual asset management planning process by the identification of land or property in its ownership that is capable of, and appropriate for, disposal;

(c)  That officers report back to the next Cabinet meeting with a list of potential development sites to be used as the basis for a formal response by the Council as a land owner to the local planning authority’s “call for sites” (as part of the Local Plan process) and used as a basis for programming future land/property disposals through annual Asset Management planning, beginning with the Asset Management Strategy 2015/16;

(d)   That the principle of engaging a development partner to bring forward the larger sites be agreed.

Cabinet was requested to review the options for funding the capital investment required over the next four years (2015/16 to 2018/19) and means of providing a continuing sustainable funding flow into the future.

The Council had significant investment needs over the next four years (and beyond) whilst the resources available to fund this investment fell considerably short of what was required. It was necessary, therefore, to consider options for meeting this shortfall and propose the most effective means to achieve this to a future Cabinet meeting for approval. Because of the size of the shortfall and the early need to fund investment, this needed to be done as soon as practicable.

Resolved:

(a)  That the contents of the report be noted;

(b)  That Cabinet agrees with the principle that the Council, as a first resort, will seek to fund its future known capital programme needs through the annual asset management planning process by the identification of land or property in its ownership that is capable of, and appropriate for, disposal;

(c)  That officers report back to the next Cabinet meeting with a list of potential development sites  to be used as the basis for a formal response by the Council as a land owner to the local planning authority’s “call for sites”  (as part of the Local Plan process) and used as a basis for programming future land/property disposals through annual Asset Management planning, beginning with the Asset Management Strategy 2015/16;

(d)   That the principle of engaging a development partner to bring forward the larger sites be agreed.