Decision details

Purpose of the report: To seek approval to carry out an archaeological investigation on part of the site, and associated works. This to be funded by borrowing against the future capital receipt. Following completion of the investigation, seek to proceed with marketing the whole site for sale.

Members are asked to: Approve the recommendations as outlined within the report.

RESOLVED:             That the Cabinet

  i)        Approve the archaeological investigation at the Hungate site, and the funding of the work from the future capital receipt.

ii)        Approve the use of the property services revenue budget as required

a.            to fund the finance costs incurred as a result of the timing differences between the archaeological investigation costs incurred and the sale of the capital receipt or

b.            to fund the archaeological investigation costs from the surplus property fund budget if the site is not sold.

iii)       Approve the marketing of the whole Hungate site, following completion of the archaeological investigation.

REASON:                  To enable the site to be marketed for sale.