Issue - decisions

RESOLVED:             That Cabinet approve the granting of a 20 year lease to a Voluntary Sector Management Group, at a commercial rental to be confirmed through a formal valuation, and to be reviewed every 5 years. This would cover the cost of prudential borrowing in lieu of a capital receipt, with a subsequent review of selling the property. The lease will be on full repairing and insuring terms. It will also be contracted out of the security of tenure provisions of the Landlord and Tenant Act.

REASON:                  This option will achieve the income stream required to cover the increased revenue cost of the Elderly Persons Homes review, and contribute to the priorities set out in the Council plan whilst retaining the asset in the long term.