Decision details

Received a report outlining the basis to be established locally for the disposal of Council land and other assets.  The report proposes that in future if the circumstances are appropriate, options other than taking capital receipts for disposals are progressed where the benefits for the community and Council can be demonstrated to exceed the monetary value of the receipt satisfying the Council’s legal obligation to achieve best consideration from assets. 

Agreed, in order to facilitate physical and social regeneration, estate renewal programmes and aid the Council to meet the decent homes target, to:

1. In principle, to forego capital receipts for Council housing land / asset disposals where projects meet corporate objectives in terms of regeneration, the achievement of the decent homes target and the aim of providing sustainable communities.  This would apply to Barking Town Centre and Thames View Estate.  This would also apply where a clear case can be demonstrated to ensure value for money is achieved from the disposal of the asset; and

2. Receive a detailed report on each proposal for a reduced capital receipt before commencement of that proposal as detailed in paragraph 5.6 of the report.