Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To consider adopting an NNC policy.
That the Executive approved the Corporate Property Leasehold Policy at Appendix A of the report for adoption.
Reasons for Recommendations:
i) The Council has fiduciary responsibilities to ensure all leasehold agreements it enters represent value for money. The Corporate Property Leasehold Policy supports this outcome.
ii) Progressing leasehold transactions in a co-ordinated way will contribute to the Corporate Plan and the commitment to be carbon neutral by 2030.
iii) The Corporate Property Leasehold Policy supports a timely and professional process, which will help manage costs and assist the Council to achieve income targets from its commercial estate.
iv) The Policy supports centralised current record keeping; a requirement of the constitution.
Alternative Options Considered: The Council could choose not to adopt a co-ordinated leasehold policy, but this would lead to uncertainty and increased risks of agreements being entered into without full consideration.
Publication date: 16/11/2023
Date of decision: 16/11/2023
Decided at meeting: 16/11/2023 - Executive
Effective from: 24/11/2023