Decision details

With reference to article 25 of the minute of its meeting of 28 September 2010, the Committee had before it a report by the Director of Enterprise, Planning and Infrastructure which sought consideration of the Council’s car parks portfolio, not including public use car parking, with a view to establishing a strategy for the management and maximising potential income from that asset group in the future.

The report recommended –

that the Committee -

(a)       agree that in the short term, the Council would retain ownership of the leased car park sites on the Investment Portfolio with a view to maximising rental income and potential capital receipts;

(b)       agree that in the medium term, the Head of Asset Management and Operations assess the options again with a view to establishing whether any changes in economic factors were affecting the Council’s car parks Investment Portfolio interests; and

(c)        agree that where applicable, to continue to explore all avenues of income generation for the vacant/development parking sites.

The Committee resolved:-

to approve the recommendations.