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41  (41) ASSETS OF COMMUNITY VALUE UPDATE – The Director of Places submitted a report updating the Cabinet Member on the progression of the Community Right to Bid process in North Lincolnshire.

The Community Right to Bid initiative allowed local community groups or town and parish councils to nominate buildings or land for listing as Assets of Community Value under the Community Right to Bid initiative.

For a local group to successfully nominate an asset it would have to show that:

–                  it was based within the local authority area (or a neighbouring authority); and

–                  it was a group that was qualified to make a nomination.

Listed assets must either improve, or had recently improved, the community’s social wellbeing or social interest.  They must also be likely of doing so in the future.

The Nominations Register set out the progress made for each nomination from the date it was received through to the listing review, as applicable.  The Nominations Register was appended to the report.

Resolved – That the latest information held within the Nominations Register be noted.

The corresponding reports of the following items (Minutes 42, 43 and 44 refer) contain exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 (as amended).

42  (42) PROPERTY  TRANSACTION SCHEDULE – The Director of Places submitted a report for consideration, and where necessary, approval of a schedule containing the terms of all recently negotiated property transactions.

The schedule covered both operational and commercial property.

Resolved – That the schedule appended to the report be approved.

43  (43) PROPERTY TRADING ACCOUNT – ROLLING PLAN – The Director of Places submitted a report setting out the estimated Capital and Revenue position for the Property Trading Account (including the Commercial and Non Operational Portfolios) for the next five years.

The Property Trading Account Management Strategy contained a requirement to provide a three to five year plan (reviewed annually) for approval by the Cabinet Member.  The plan informed the council’s budget management process.  It set out current capital and revenue targets and outlines proposals for capital investment and revenue expenditure for future years.

The report also reflected the capital and expenditure for 2015/16.

The report and accompanying appendices gave details in relation to capital income and expenditure and capital and revenue expenditure.

Resolved – That the Property Trading Account Rolling Financial Plan, as set out in the report and accompanying appendices be approved.

44  (44) ALLOCATION OF PROPERTY TRADING ACCOUNT FUNDS – ANNUAL STATERGY UPDATE – The Director of Places submitted a report seeking to provisionally allocated Property Trading Account (PTA) funds to development schemes, along with seeking approval to progress the schemes listed in Appendix 1 to the report.

The council’s Industrial and Commercial Property Management and Development Policy allowed the use of PTA funds for development schemes linked to the council’s wider Regeneration Agenda and Strategy.

The policy required that an annual strategy document was produced.  This should be reviewed at six monthly intervals to approve and report on the progress of the projects.

Most schemes were property related and required a period of negotiation to achieve value for money.  Pre-approved funding was essential for this to happen.  Negotiations would result in a legal commitment by the council.  Some schemes could also depend on the approval of external funding before they began.

The report incorporated the provisions of the Non Operational Property Portfolio Management Strategy 2012-2017 approved in April 2013.

Resolved – (a) That the provisional allocation of PTA funds against the proposed development schemes listed at Appendix 1 to the report, be approved, and (b) that the Director of Places be authorised to progress negotiations with a view to taking forward the approved schemes.