Purpose

The report proposes a programme of disposals (from land already identified for redevelopment) that will contribute towards the mitigation of the shortfall between ECL’s asset and liabilities whilst also proposing short term expenditure that is required to facilitate the programme of disposals.

Decision

Agreed:

RECOMMENDED that Council approve:-

(1) the disposal of land at Mary Arches Street Car Park as shown on the site boundary plans in Appendix 1, the multi-storey car park site for co-living use, and the surface carpark for residential use.

(2) the disposal of land at Clifton Hill as shown on the site boundary plans in Appendix 2, for use as residential homes on the existing site (shaded blue), retaining the green shaded area for existing use as an open space, and retaining the yellow and purple shaded areas for existing uses.

(3) the granting of delegated authority to the City Surveyor, in consultation with the Leader and the Director Finance (S.151 Officer) to approve the final terms of the disposals, in accordance with the Local Government Act 1972, Section 122, to appropriate the sites which belong to the Council (shown on the plans at Appendices 1 and 2), for planning purposes to facilitate the carrying out of development, re-development or improvement on or in relation to that land; and

(4) a budget of £800,000, funded by a mix of the earmarked reserve set aside for this purpose and the surplus income from the Guildhall Shopping Centre, to cover the costs of preparing the sites for disposal and the facilitation of best consideration for the Council’s assets.

Reason for Decision: As set out in the report and amended at the meeting.