Agenda item - Capital Asset Strategy

1)             Cabinet approves the Capital Asset Strategy which comprises the 5 principles set out in paragraph 3.6.

2)             Cabinet agrees to the appropriation for housing purposes or disposal of the assets identified at paragraph 3.8 and in Part 2 of this report in the manner set out in this report.

3)             Cabinet delegates authority to the Director Property & Finance in consultation with the Director Governance & Law and the Cabinet Member for Finance and City Regeneration to approve terms and take any necessary steps to facilitate and complete the appropriation for housing purposes or disposals of the properties identified in the Part 2 report and achieve best consideration.

192.1   Cabinet considered a report that set out the principles for the ongoing strategic management of the council’s asset portfolio (excluding the Seafront Portfolio) and set out a Capital Asset Strategy for managing and identifying assets to support capital receipts for the council’s Innovation Fund and Capital Investment Programme.

192.2   Councillors Daniel, Taylor, Allen and Robins asked questions and contributed to the debate of the report.

192.3   Cabinet moved to confidential session at 2.58pm and reconvened the public meeting at 3.08pm.

192.4   Resolved-

1)             Cabinet approves the Capital Asset Strategy which comprises the 5 principles set out in paragraph 3.6.

2)             Cabinet agrees to the appropriation for housing purposes or disposal of the assets identified at paragraph 3.8 and in Part 2 of this report in the manner set out in this report.

3)             Cabinet delegates authority to the Director Property & Finance in consultation with the Director Governance & Law and the Cabinet Member for Finance and City Regeneration to approve terms and take any necessary steps to facilitate and complete the appropriation for housing purposes or disposals of the properties identified in the Part 2 report and achieve best consideration.