Issue - decisions
Commercial Estate review update
20/07/2021 - Commercial Estate review update
RESOLVED (unanimously) that the Cabinet agreed to:
1. Note the findings and the executive summary from the Commercial Estate review.
2. Approve the Commercial Estate review plan, workstreams and governance arrangements and delegate to the Property Review Board / S151 Officer, responsibility for implementing the governance arrangements and required restructuring, respectively.
3. Approve the Capital budget of £2.337m for Commercial Estate Refurbishment Programme, utilising funding as described in section 5.2.
4. Approve the creation of a capital reserve to be funded from dilapidation and insurance income relating to capital refurbishments.
5. Approve the approach to Commercial Estate repurposing to residential accommodation using the Council’s housing company Aequus, with delegation for transfer arrangements given to the Chief Financial Officer (S151) in consultation with the Cabinet Member for Resources and Economic Development.