Decision Details

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Details

Status:
Implemented
Title:
Property Strategy 2018/19 - 2023/4 including first phase projects
Include item on Forward Plan
Yes
Is Key Decision
No
Item Contains Exempt/Private Reports
No
Reference:
005335/2018
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of Strategic Director of Economy
Implementation Date (not before meeting on)
Tue 13 Nov 2018
Purpose
The report seeks approval and implementation of the Property Strategy 2018-2023
Key Portfolio
Leader
Decision Maker
Chief Officer Decision Maker
Reason For Key Decision
The decision will have a significant effect on more than one ward as well as significant financial and governance implications.
Relevant Documents
Decision Type:
Committee
Decision Maker:
Cabinet
Directorate
Economy
Other Information
Private Reason
Decision Outcome

The Leader moved an amendment and it was agreed by Cabinet that paragraph 1.2.2, recommendation 2.3, paragraph 7.2.3 and 7.2.4 and Appendix 7 be withdrawn. Therefore on 13 November 2018, Cabinet :-

 

(i) Approved the Property Strategy 2018/19-2023/24 attached at Appendix 1 and 2 to the report;

 

(ii) Agreed to delegate the approval for the commencement of procurement activities and the award of contracts for the provision of external legal and (where there is not resource available in-house and subject to the prior written approval of the City Solicitor) and property advice to support the delivery of the Property Strategy for the estimated value of £2.25m to the Corporate Director, Economy, the Director of Commissioning and Procurement, the Corporate Director, Finance and Governance (or their delegate) and the City Solicitor (or their delegate);

 

(iii)    Approved the ring-fencing of receipts raised from the disposal of properties held for investment purposes into the Investment Portfolio, for subsequent reinvestment to deliver increased capital value and returns subject to the approval by Cabinet of the planned investment portfolio activities as set out in the annual Investment Property Strategy report;

 

(iv)   Noted that where capital receipts are not approved for subsequent reinvestment in the Investment Portfolio, either in whole or in part, should there be any impact on the budgeted revenue income stream this will be considered as part of that approval process;

 

(v)  Approved the transfer of general fund revenue budgets from service areas which in relation to property assets held in the new Investment portfolio to a central budget managed by Birmingham Property Services (BPS);

 

(vi)   Noted the implementation of first phase projects subject to the production of individual Executive reports:

 

1. Programme to dispose of surplus properties – Investment and Operational portfolios;

2. Industrial estates portfolio;

3. Jewellery Quarter: property support for incubation/growth of creative industries;

4. Provision of Public Service Hubs;

 

(vii)   Authorised the City Solicitor where necessary, to advertise the permanent loss of public open space and consider any objections in accordance with Section 123(2a) of the Local Government Act 1972;

 

(viii)  Authorised the Assistant Director Property to negotiate and finalise terms and authorised the City Solicitor to negotiate, execute and complete all necessary legal documents to give effect to the disposal of surplus properties detailed in the Sites Prospectus as attached at Appendix 5 to the report.

 

 

THE DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY

19 NOVEMBER 2018.
 
 
Would the recommended decision be contrary to the budget and policy framework:
No
Decision Options:

Additional Information

Reg 10
Reg 11

Decision Criteria

This Decision does not contain any decision criteria records.

Wards

This Decision does not contain any Ward records.

Topics

This Decision does not contain any Topic records

Overview and Scrutiny

Economy and Skills Overview and Scrutiny Committee

This section displays the history of the Decision.

Decision History

Date & Time CreatedUser Full NameStatus DescriptionDetails
12
 Page 1 of 2, items 1 to 10 of 16.
03/07/2018 14:58:37Wendy HillBusiness Item Created 
03/07/2018 14:58:37Wendy HillCommittee AddedCabinet
03/07/2018 14:58:37Wendy HillMeeting Added09/10/2018 10:00AM
03/07/2018 14:58:37Wendy HillOS Committee AddedEconomy and Skills Overview and Scrutiny Committee
03/07/2018 14:59:48Wendy HillContacts Edited 
03/07/2018 15:00:05Wendy HillStatus ChangedDecision Proposed [2]
11/07/2018 14:01:35Wendy HillGeneral Details Edited 
11/07/2018 14:02:29Wendy HillGeneral Details Edited 
30/08/2018 16:40:07Wendy HillMeeting Added13/11/2018 10:00AM
30/08/2018 16:40:16Wendy HillMeeting Deleted09/10/2018 10:00AM

Approval/Comments

No history found.