The Group Finance Director submitted a report to Cabinet to request that Cabinet provide Project Approval and delegate authority to officers to enter into a new contract or contracts with suitably qualified firms to undertake real estate valuations. 

Cabinet is recommended to:

1.    Give Project Approval to approve the procurement of a suitably qualified firm ofreal estate valuers to undertake valuations of council-owned properties recorded within the General Fund and Housing Revenue Accounts 

2.    Delegateauthority to the Deputy Chief Executive – Place in consultation with the Group Director of Finance, the Director of Law, Governance and Strategy (Monitoring Officer), and the Cabinet Member for Finance and Corporate Assets to determine the form of the procurement, contract, and award and enter into the final contract with the preferred supplier 

Cabinet resolved to:

1.    Give Project Approval to approve the procurement of a suitably qualified firm ofreal estate valuers to undertake valuations of council-owned properties recorded within the General Fund and Housing Revenue Accounts 

2.    Delegate authority to the Deputy Chief Executive – Place in consultation with the Group Director of Finance, the Director of Law, Governance and Strategy (Monitoring Officer), and the Cabinet Member for Finance and Corporate Assets to determine the form of the procurement, contract, and award and enter into the final contract with the preferred supplier 

The Group Finance Director had submitted a report to Cabinet to request that Cabinet provide Project Approval and delegate authority to officers to enter into a new contract or contracts with suitably qualified firms to undertake real estate valuations. 

Councillor Turner presented the report. He said that Oxford needs accurate real estate valuations for accounting purposes. As they do not have that expertise in house, he said that they need to go out and procure the services.

Councillor Hollingsworth asked if the valuations would include things which are difficult to value, such as things like heritage properties or the museum.

Ted Bowler, the Corporate Asset Manager, confirmed that difficult to value items would be included in the programme.

Cabinet resolved to:

1.    Give Project Approval to approve the procurement of a suitably qualified firm ofreal estate valuers to undertake valuations of council-owned properties recorded within the General Fund and Housing Revenue Accounts 

2.    Delegate authority to the Deputy Chief Executive – Place in consultation with the Group Director of Finance, the Director of Law, Governance and Strategy (Monitoring Officer), and the Cabinet Member for Finance and Corporate Assets to determine the form of the procurement, contract, and award and enter into the final contract with the preferred supplier