Decision details
Commercial Property Investment Strategy - Update
PDF 109 KBDecision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To seek approval to bring forward funding from 2018/19 to accelerate delivery of the approved Commercial Property Investment Strategy.
Decision:
That the Executive recommended to Council the release of £20m capital funding in 2017/18 from the indicative 2018/19 Capital Programme in order to accelerate delivery of the Council's agreed Commercial Property Investment Strategy (CPIS).
Reasons for the decision:
To facilitate implementation of the Commercial Property Investment Strategy.
Alternative options considered:
The Executive could have determined to leave the phasing of funding to support the CPIS as originally approved, which was not recommended for the reasons set out below.
In order to enable the CPIS to be pursued as soon as practicable, without compromising on the robust assessment approach that has been taken to date, it was recommended that Council be requested at the earliest opportunity to bring forward the £20m earmarked for the CPIS in 2018/19 into the current year. This would accelerate delivery of part of the Council’s Efficiency Plan, take some of the pressure off other services to achieve savings in 2018/19 and create some additional one-off resources.
Interests and Nature of Interests Declared:
None.
Reason Key: Expenditure > £400,000;
Wards Affected: (All Wards);
Financial Impact: Revenue savings anticipated
Declarations: None.
Subject to Urgent Proceedings: No.
Making Representations: In writing to the Borough Treasurer.
Other reasons / organisations consulted
Meetings with interested parties.
Consultees
Corporate Management Team
Executive Committee: Commercial Property
Contact: Stuart McKellar, Executive Director: Resources Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205.
Publication date: 09/05/2017
Date of decision: 09/05/2017
Effective from: 17/05/2017