The Head of Corporate Property has submitted a report to seek approval for the Asset Management Strategy 2021 – 2031. The Strategy will provide an ongoing framework for the management of the Council’s property assets.

Cabinet is recommended to:

1.        Recommend to Council that the Asset Management Strategy 2021- 2031 be adopted;

2.        Delegate authority to the Executive Director (Development) in consultation with the Deputy Leader (Statutory) – Finance and Asset Management to make minor, non-substantive changes to the Strategy; and

3.        Delegate authority to the Executive Director (Development) in consultation with the Deputy Leader (Statutory) - Finance and Asset Management to make ongoing changes to the Asset Management Action Plan (AMAP).

The Head of Corporate Property had submitted a report to seek endorsement of the Asset Management Strategy 2021-2031.  The Strategy would provide an ongoing framework for the management of the Council’s property assets.

As part of the Budget and Policy Framework, it would require approval by Council in October.

A question was raised about the amendment, referred to in the Cabinet Member’s response, which had been made as a result of the scrutiny recommendation that the Council should explore ethical investments as part of its asset portfolio.  The Senior Estates Surveyor responded that the wording ‘…and that due consideration is given to the ethical status with any investment or investment strategy’ had been added to point 9 of section 8.4 of the Strategy.

Cabinet resolved to:

1.      Recommend to Council that the Asset Management Strategy 2021 – 2031 be adopted;

2.      Delegate authority to the Executive Director (Development) in consultation with the Deputy Leader (Statutory) – Finance and Asset Management to make minor, non-substantive changes to the Strategy before it is considered by Council; and

3.      Delegate authority to the Executive Director (Development) in consultation with the Deputy Leader (Statutory) – Finance and Asset Management to make changes to the Asset Management Action Plan (AMAP) before it is considered by Council.