Issue - meetings

Report of the Cabinet Member for Resources, Leisure and Culture seeking approval for the classification of properties held in the Investment Portfolio to enable them to be reviewed for possible disposal, attached.

DECISION MADE: (Ref: CAB 11/12 7537)

On consideration of the report of the Cabinet Member for Resources, Leisure and Culture, Cabinet agreed the following:

(i)  To approve the re-categorisation of Investment Property into ‘Strategic Investment Property’ and ‘Managed Investment Property’ as set out in Confidential Appendix 2 to this report.

(ii)  To increase the delegated authority to the Head of Property and Procurement to approve any potential disposals from the current limit of £50,000 to £300,000.

(iii)  To increase the delegated authority to the Head of Property and Procurement, following consultation with the Cabinet Member for Resources, Leisure and Culture, to approve any potential disposals from the current limits of £50,000 - £500,000, to new limits of £300,000 - £1,000,000.