Issue - decisions

Corporate Property Leasehold Policy

16/11/2023 - Corporate Property Leasehold 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.