Issue - meetings
Funding for Landlord's Works and Approval of New Lease's at Investment Property in Cumnor
Meeting: 12/07/2023 - Executive (Item 74)
Funding for Landlord's Works and Approval of New Lease's at Investment Property in Cumnor
Purpose:
To seek authority to agree new leases with existing occupiers at the subject property and to seek funding for Landlord’s Works required.
Recommendations:
That the Executive resolves to:
a) Approve the proposed capital budget of up to £125,000 for refurbishment works;
b) Approve the proposed new leases to the current sub tenants;
c) Delegate the decision on the final costs of works and terms of leases to the Assistant Director for Property & Regeneration in consultation with the Chief Finance Officer and Executive Member of Resources;
d) Recommend to Council to add £125,000 to the Capital Programme for this item to be financed from the Property Improvement and Incentive Reserve.
Additional documents:
- Restricted enclosure 2
- Restricted enclosure 3
Minutes:
Councillor Dan Levy, Executive Member for Finance, introduced and gave an overview of the report, which sought authority to agree new leases with existing occupiers at the subject property, and to seek funding for Landlord’s Works required.
Councillor Dan Levy proposed that the Executive agree to the recommendations as listed on the report. This was seconded by Councillor Andy Graham, was put to a vote and was unanimously agreed by the Executive.
The Executive Resolved to:
- Approve the proposed capital budget of up to £125,000 for refurbishment works;
- Approve the proposed new leases to the current sub tenants;
- Delegate the decision on the final costs of works and terms of leases to the Assistant Director for Property & Regeneration in consultation with the Chief Finance Officer and Executive Member of Resources;
- Recommend to Council to add £125,000 to the Capital Programme for this item to be financed from the Property Improvement and Incentive Reserve.