Decision details

Procurement - Property Development Enterprise to work in partnership with the County Council FR05 19-20

Decision Maker: Cabinet Member for Finance and Resources

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The primary focus for the proposal set out in this report is in raising value for the County Council through generating additional financial returns from surplus land assets at financial levels above those likely in a straightforward sale of undeveloped land. The funds raised would then be re-invested across West Sussex to support the wider aims of the County Council.   

 

At its meeting on 28 March the County Council’s property development advisory panel to the Cabinet Member for Finance and Resources (‘Propco’) endorsed a proposal for the Council to work in a joint venture partnership agreement with an established commercial enterprise to maximise the financial return from land assets surplus to County Council requirements. 

 

 

Decision:

The Cabinet Member has agreed to:

(1)         The commencement of a procurement process to select a suitable commercial enterprise, that has demonstrated skilled resources in property development, to act as joint venture partner with the County Council in a business arrangement for the commercial development of surplus council land,

(2)         Delegate to the Executive Director of Place Services, in consultation with the Cabinet Member for Finance and Resources, the selection of the initial tranche of suitable sites and the appointment of the preferred bidder;

(3)         Delegate to the Director of Law and Assurance the setting up of a wholly County Council owned company as required to progress the joint venture partnership.

(4)         Approve set up costs, including the procurement process, up to the value of £700,000; such funds to be drawn from the Council’s reserves.

(5)         Facilitate an opportunity for the Policy and Finance Select Committee to preview the key decisions being taken in recommendations (2) and (3) above.

Interests and Nature of Interests Declared:

None

Publication date: 28/06/2019

Date of decision: 28/06/2019

Effective from: 10/07/2019

Accompanying Documents: