Cabinet considered the Asset Management Plan (AMP) which sets out how the Council will support the delivery of its Capital Strategy which was approved by Council in February 2020. The Asset Management Plan was written prior to COVID-19 and subsequently amended to include an opening paragraph regarding this.
The purpose of the Plan is to ensure that the property assets owned by the Council are used, developed, fit for purpose and managed effectively thus representing value for money for the Council’s residents.
Alternative options considered and rejected:
Not to approve the AMP – this would result in the Council not being in a position to clearly set out and define its intentions on how it will be managing its assets or development programme.
Resolved to:
1. Approve the Asset Management Plan (AMP) for the period 2020 to 2025; and
2. Delegate authority for any annual updates which may be required (excluding any substantive changes in approach) to the Group Head for Regeneration and Growth in consultation with the Deputy Leader who has responsibility for Asset Management.
Reason for Decision
The Asset Management Plan will minimise long term risk and help sustain the local economy and ensure continued and effective delivery of Council services.