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 type: Key
Reason Key: Affects more than 1 ward;
Decision status: Recommendations Approved
Divisions affected: (All Divisions);
Notice of proposed decision first published: 16/05/2019
Decision due: June 2019 by Cabinet Member for Finance and Resources
Lead member: Councillor Jeremy Hunt email@example.com
Contact: Malcolm Mayo, Technical Programme Manager Email: firstname.lastname@example.org Tel: 033022 23031.
Representations concerning this proposed decision can be made to the Executive Director of Place Services, via the author or officer contact, by the beginning of the month in which the decision is due to be taken.
Leader; Performance and Finance Select Committee 22 May 2019. Market experts and local authority officers.
Democratic Services Contact: Suzannah Hill 033 022 22551
Background3: A Council that Works for the Community