Purpose

Approve the clarification of
the principles for the grant of leases for less than best
consideration, to be added to the existing Acquisition and Disposal
Policy.

Decision

That Cabinet approve the implementation of the
Clarification Appendix attached to the Acquisition and Disposal
policy, setting out the principles for granting leases at less than
best consideration.

Alternative options considered

To continue with the current ad hoc
arrangements for managing social value leases, but this is not
recommended as it fails to provide the structured approach
necessary for achieving best value and strategic outcomes.
 
Another option would involve outsourcing the
disposal process entirely, which could increase costs and reduce
control over the asset disposal strategy. This was not the
preferred option.
 
Cabinet could have decided not to accept the
proposed new principles. This was not the preferred option as a
clear framework is needed to align with the Council’s
corporate objectives.