Cabinet considered a report on a proposal to set up a Property and Investment Committee as a Cabinet Sub-Committee.
The existing process of decision making has been appropriate and sufficient
for many years, but due to dramatic changes in the Council’s property portfolio over the last few years it is now apparent that it is no longer ‘fit for purpose’. Cabinet considered how decision making is structured in the future to ensure that the Council can make fully informed and transparent decisions but at a speed that is acceptable within a fast moving and commercial environment.
Alternative options considered, and rejected, by the Cabinet:
· Leave arrangements as they are
Resolved to approve the set up and Terms of Reference of the Property and Investment Committee as a Cabinet Sub-Committee.
Reason for Decision
To update and streamline the decision making process for dealing with asset transactions whilst providing a clear audit trail for decisions