Decision details

To consider adopting an NNC policy.

RESOLVED

KEY DECISION

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.