Decision details

RECOMMENDED:

(a)        That the Asset Investment Strategy attached to Report Item 3 considered by the Cabinet be approved;

(b)        That the proposed level of investment and the additional budgetary and staffing requirements as set out in the Strategy and Report Item 3 considered by the Cabinet be approved;

(c)     That the following delegation of powers be approved to make purchases and investments in accordance with the provisions of the Strategy:

(i)      That the Chief Executive, the Executive Head Governance and Regulation, and the S151 Officer, in consultation with the Portfolio Holder for Finance and Efficiency and the Chairman of the Corporate Overview and Scrutiny Panel, shall have authority to make asset purchases and investments up to £5 million;

(ii)     The Cabinet shall have authority to make asset purchases and investments above £5 million.

(d)        That a Property Investment Panel be constituted, consisting of the Finance and Efficiency Portfolio Holder, the Chairman of the Corporate Overview and Scrutiny Panel, the Chief Executive, the Executive Head Governance and Regulation, and the S151 Officer, for the purposes set out Report Item 3 considered by the Cabinet.