Purpose

The report proposes a programme of disposals
(from land already identified for redevelopment) that will
contribute towards the mitigation of the shortfall between
ECL’s asset and liabilities whilst also proposing short term
expenditure that is required to facilitate the programme of
disposals.

Content

Agreed:
 
RECOMMENDED that Council
approve:-
 
(1) the disposal of land at Mary Arches Street Car Park as
shown on the site boundary plans in Appendix 1, the multi-storey
car park site for co-living use, and the surface carpark for
residential use.
 
(2) the disposal of land at Clifton Hill as shown on the
site boundary plans in Appendix 2, for use as residential homes on
the existing site (shaded blue), retaining the green shaded area
for existing use as an open space, and retaining the yellow and
purple shaded areas for existing uses.
 
(3) the granting of delegated
authority to the City Surveyor, in consultation with the Leader and
the Director Finance (S.151 Officer) to approve the final terms of
the disposals, in accordance with the Local Government Act 1972,
Section 122, to appropriate the sites which belong to the Council
(shown on the plans at Appendices 1 and 2), for planning purposes
to facilitate the carrying out of development, re-development or
improvement on or in relation to that land; and
 
(4) a budget of £800,000, funded by a mix of the
earmarked reserve set aside for this purpose and the surplus income
from the Guildhall Shopping Centre, to cover the costs of preparing
the sites for disposal and the facilitation of best consideration
for the Council’s assets.
 
Reason for Decision: As set
out in the report and amended at the meeting.