Issue - meetings

Asset Management Strategy (Non-Housing) 2022-26

 

 

Meeting: 25/10/2022 - Cabinet (Item 36)

36 Asset Management Strategy (Non-Housing) 2022-26 pdf icon PDF 241 KB

(Cabinet Member with Special Responsibility Councillor Hamilton-Cox)

 

Report of Director for Economic Growth & Regeneration  (report published on 19.10.22)

Additional documents:

Minutes:

Cabinet Member with Special Responsibility Councillor Hamilton-Cox)

 

Cabinet received a report from the Director for Economic Growth & Regeneration which presented the Asset Management Strategy (Non-Housing) 2022-26 to Cabinet for approval.

 

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

 

 

Option 1: Adopt the Asset

Management Strategy (Non-

Housing) 2022-26

Option 2: Do not adopt the Asset

Management Strategy (Non-

Housing) 2022-26

Advantages

Ensure that the council provides the right assets in the right place, time and cost to meet and support its current and future

objectives.

 

Allow the council to optimise and prioritise the level of

investment in property assets to minimise maintenance backlog,

improve fitness for purpose and optimise occupancy levels.

 

Maximise the value the council can gain from its non-operational commercial portfolio and surplus assets in both financial and social value terms.

 

Allow the council, in a

structured and clear way, to

regularly challenge the use of its land and buildings to minimise revenue expenditure and maximise the generation of capital receipts/revenue income.

 

Provide officers with clear

decision-making framework

for activities relating to asset

use and acquisition.

More resources available for

other areas of ambition.

Disadvantages

Additional resources will be

required to effectively

deliver the priorities.

Property decisions will be made reactively and from a siloed approach, and may not create the best outcomes for the Council financially, for its staff or its residents.

 

The Council will not be able to effectively manage its property portfolio.

 

Opportunities to maximise

income from our portfolio will be missed.

Risks

May identify spending

requirements which have not previously been accounted for

Potential for wasted effort and resources being applied to activities which are found to not be in line with service or member aspirations.

 

Increased risk of properties falling into disrepair and accidents occurring.

 

 

 

 

The officer preferred option is Option 1. Only through the effective implementation of an Asset Management Strategy can the council be confident that it is efficiently and effectively managing its property portfolio.

 

It was proposed by Councillor Hamilton-Cox

 

“That recommendations 1 to 4 as set out in the report be approved, together with a revision to recommendation (5) which would now read ‘ that Cabinet reviews the existing list of all assets to identify those which may provide opportunities for disposal’ along with two further recommendations:(6)Cabinet requests that a confidential report comes forward to December cabinet which summarises all expressions of interest received for development of the Frontierland site & (7) Cabinet requests that the Economic Growth & Regeneration directorate's proposal for land owned by the council at Scotforth - referencing the status update on the use of the land to October's Capital Assurance Group that: 'Officers are reviewing structure of a deal for the council's land subject to Planning and Member approval that will generate a long term revenue for the council' is brought to December cabinet in order to determine whether the principle of the deal (not its structure) is accepted by cabinet.’

 

Councillor  ...  view the full minutes text for item 36