Agenda and minutes

To receive any disclosures of interest from councillors in accordance with the Council’s Code of Conduct for members.

There were none.

To consider the report of the Regeneration Manager and the Joint Head of Asset Management on the acquisition of properties in the Borough. (To follow).

It may be necessary during discussion of this item to move the exclusion of the Press/Public, in view of the likely disclosure of exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to information) (Variation) Order 2006.

The Cabinet considered the report of the Regeneration Manager and the Joint Head of Asset Management on property acquisitions in the Borough.

The report, which was linked to the ‘use of assets and income generation’ strand of the Council’s transformation programme - known as ‘Towards a Sustainable Future’, considered an opportunity to build additional sources of revenue income for the Council whilst also helping to alleviate the increasing pressures being placed on affordable housing provision, and the rising costs of assisting homeless families.

The Cabinet considered the options in the main body of the report.

Resolved:

Property One

1.    To agree the level of offer which has been put in for the purchase and conversion of property one; and

2.    To give delegated authority to the Deputy Chief Executive, (Terry Collier) to undertake any necessary subsequent negotiations and to purchase (in consultation with the Leader and the Cabinet Member for Finance).

Property Two

3.    To agree the level of offer for the purchase and upgrading of property two; and

4.    To give delegated authority to the Deputy Chief Executive, (Terry Collier) to submit the offer and undertake any necessary subsequent negotiations, and purchase (in consultation with the Leader and the Cabinet Member for Finance).

Generally

5.    To approve the setting up of a Local Authority Trading Company Knowle Green Estates, as a 100% property trading company owned by the Council, as a potential vehicle to purchase and hold the properties; and

6.    To give delegated authority to the Deputy Chief Executive, (Terry Collier) in consultation with the Leader and the Cabinet Member for Finance, and subject to taxation advice, to decide if the properties will be held by the Council or its property trading company

Reason for Decision

The acquisition of two properties in the Borough will help provide accommodation to alleviate the increasing pressures being placed on affordable housing provision, and the rising costs of assisting homeless families, as well as an income stream to the Council and an opportunity to

increase its asset base.

With respect to property one: this will provide the Council with a building which can then be used to provide a large number of family sized two bedroom units of affordable housing which will help meet the needs of Spelthorne residents.

With respect to property two: this will provide the Council with a building which can be upgraded and then used to provide temporary emergency accommodation to help meet the needs of Spelthorne residents.

The setting up of a Local Authority Trading Company will allow greater flexibility in the types of tenure that may be offered to potential tenants.