Agenda item

The Committee resolved to:

1.    Agree the Social Value Strategy for the regeneration site disposals and recommend to Council for approval; and

2.    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers, which may reduce the highest financial value being achieved.

The Committee considered a report that sought a recommendation for Council to approve the proposed Social Value Strategy for the Council’s regeneration sites.

The Committee were advised that this report had been considered at a meeting of the Business, Infrastructure and Growth Committee in January and a recommendation was made to this Committee to agree the Social Value Strategy for the regeneration site disposals.

The Group Head Assets was asked to provide a list, to be circulated to all committee members, of all commercial properties within the Council’s Portfolio.

The proposed strategy would ensure that an agreed set of parameters would be used to evaluate any offers as opposed to just accepting the highest offer. Prior to any site disposal Council will agree a minimum site value and attach weightings to individual criterium to aid decision making and to ensure that the Council consider the social value to the Borough’s residents.

Councillor Williams requested a recorded vote.

The Committee resolved to:

1.    Agree the Social Value Strategy for the regeneration site disposals and recommend to Council for approval; and

2.    Note that by adopting the Strategy the relevant housing and regeneration sites will be marketed to include a requirement for third parties to provide social value provision within their offers, which may reduce the highest financial value being achieved.