53 Council Land and Asset Disposals - Funding New Affordable Housing and Regeneration Initiatives
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Minutes:
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:
- 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
- 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.