Issue - meetings

The Commission considered a report of the Director of Property concerning the Cabinet response to the report of the Best Value Review of Industrial Properties.  A copy of the report marked ‘B’ is filed with these minutes.

 

In reply to comments the Director of Property undertook to amend the report to indicate that the 2000/01 trading account surplus was now confirmed at £340,000 and that the recommendation 1 in respect of the financing options would indicate that the notional 6% return on asset value relates to the new Best Value Accounting Code of Practice.

 

The Director of Property also advised members of progress in relation to the two sites in North West Leicestershire to be sold for development.

 

RESOLVED:

 

The Cabinet be advised that the Scrutiny Commission.

 

(a)            endorses the approach adopted in respect of the Strategic, Management, Portfolio and Finance Options as set out on pages 21-25 of the report;

 

(b)       notes and supports the proposed Action Plan set out on Pages 26 and 27 of the report and in particular welcomes the proposal in Action Point 4 which would include identifying potential properties/buildings in the County Farms Estate for investment and possible incorporation into the Industrial Properties portfolio.