Decision Maker: Cabinet

Outcome: Decision approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: November 5, 2024

Purpose:

Content: Decision   For the reasons set out in the report and its appendices Cabinet RESOLVED to Agree:   i)  The sale of the whole Newham’s IPV4 address range via an approved broker;   ii)  To delegate authority to the Corporate Director of Resources to agree the specifics of the sale;   iii)  To note the market conditions and exchange rates will dictate the final price achieved. The range provided is purely indicative and does not denote a minimum or maximum sale price the Council is looking to achieve;   iv)  To note that a separate procurement exercise will be completed to identify a preferred broker to act on behalf of the Council to sell the range and maximise income potential from the sale. A fee will be payable only upon the successful sale of the addresses at an agreed fixed percentage (c.2.5%); and   v)  To note that the Council would need to purchase a small number of IPV4 addresses to replace the addresses sold. The cost of replacing addresses is still to be determined following a discovery exercise by one source IT.   Alternatives Considered   a)  The option to lease rather than sell the address range was considered but this option was rejected due to the administrative burden on the Council that would result. Selling the range also insures the Council against further reductions in the value of the address range in future years as IPV6 adoption picks up pace. b)  The option to do nothing is not recommended to ensure that the Council obtains value for money from a significant financial asset which might in due course reduce in value.