Issue - meetings

The Cabinet Member for Finance presented a report on proposals to formalise and regularise property leasing arrangements to provide a transparent and consistent approach to the leasing of Council property assets.

The Cabinet Member advised that a new policy would apply to all Council property leasing arrangements, except for those associated with Community Asset Transfers driven by the Council in respect of community centres and future Transfer of Assets or Services as part of the Community Right to Bid or the Community Right to Challenge elements of the Localism Act 2011.  The policy would be based on the principle of full market rent but with a mechanism for third parties to apply for financial support towards rent that would be linked to the delivery of corporate and departmental objectives.  Although the detail of the policy was still to be determined, the Cabinet Member suggested that funding support arrangements would be on a three-year basis and subject to ongoing monitoring and review.

Cabinet resolved:

(i)  To agree that future leases with third parties in respect of Council property assets be at a market rent, with rent subsidy levels considered through the submission of a business case; and

(ii)  To authorise the Chief Finance Officer, in consultation with the Cabinet Members for Finance and Crime, Justice and Communities, to agree the formal policy and scoring mechanism, linked to the delivery of Council priorities, by which rent subsidy levels shall be determined.