Agenda item

The Committee agreed to item 25 being considered at this point in the public session on the basis that the report contained no exempt information.

Operational Property Review – Incentivisation Review

The Committee considered a resolution from the Corporate Asset Sub-Committee meeting held on 22 May 2017, together with a joint report of the Chamberlain and the City Surveyor setting out options and recommendations for incentives to encourage departments to release and rationalise surplus operational property.

A number of Members were heard in support of the recommendation and noted that, currently, there was no incentive to release surplus property and land. Departments tended to hold on to property which was surplus to requirements in case it was needed subsequently. It was important to recognise the merits of owning fewer properties and improving the condition of those which were retained within departmental portfolios.

RESOLVED – That the resolution of the Corporate Asset Sub-Committee be noted and that:-

1.   Enabling savings generated from asset rationalisation be ring fenced and channelled into new or improved retained assets for departments (as set out Option 1 – para 13 of the report);

2.   Property Utilisation Targets as set out in para 19 of the report be introduced and an Operation Property Change Board be created as part of the review of the City’s Corporate Property Asset Management Strategy for 2017-22;

3.   More useful Management Information be developed on the utilisation, cost and suitability of assets and, to assist decision making process, shared with Chief Officers and Committees as set out in para 22; and

4.   the introduction of imputed rent as set out in para 22 of the report be kept under review.