Purpose

At present, the Council does
not hold a formal Acquisition and Disposal Policy. The adoption of
this new policy will set out how the council identifies and
disposes of surplus property in order to reinvest capital receipts
as part of Thanet District Council’s (“the
council’s”) capital strategy and asset management
planning process. The policy has two main sections: general
principles for disposals and general principles for
acquisitions.

Decision

Cabinet approved the implementation of the new
Acquisition and Disposal policy.

Reasons for the decision

The implementation of the new Acquisition and
Disposal Policy is necessary to provide a clear, structured
framework for the identification and disposal of surplus property
assets.

Alternative options considered

One alternative would be to
continue with the current ad hoc arrangements for managing surplus
assets, 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 is
not the preferred option.
 
Cabinet could decide not to
accept the proposed new policy and instead amend aspects of the
policy. This is not the preferred option as the policy has been
carefully thought out to align with the Council’s capital
corporate objectives.