Contact: Nick Gibbins, ext 7544 email:[email protected]

1 Summary

1.1 In considering the capital programme for 2005/06 to 2008/09, the Executive Member for Recreation and Heritage recommended to the Executive Member for Policy and Resources that:

Capital receipts totalling £200,000 relating to library flats at Bridgemary and Elson are added to the Recreation and Heritage capital programme for 2005/06

Capital receipts to be identified in respect of a service tenancy estimated at £400,000, are added to the Recreation and Heritage capital programme for 2005/06

1.2 Though it is not the general policy to allow services to retain 100% of the benefit of capital receipts, it is proposed that this particular request be agreed.

1 Proposal

1.1 The flats above the libraries at Bridgemary and Elson have been sold for a combined value of almost £200,000. Initially it was intended that these receipts would fund the purchase of additional land at Titchfield Haven nature reserve, but this could not be progressed. The Executive Member for Recreation and Heritage has requested that 100% of the value of these receipts be retained by Recreation and Heritage to continue the programme of library refurbishment into 2005/06.

1.2 A property formerly occupied by a member of staff under a service tenancy at Royal Victoria Country Park has now become vacant and has an estimated value of £400,000. Disposal of this property on the open market is proposed and the Recreation and Heritage Executive member has also requested 100% retention of this capital receipt, to further supplement the Recreation and Heritage 2005/06 capital programme.

2 Conclusion

2.1 The general policy is to allow services to retain a 25% share of capital receipts and any proposal to retain an increased share of a capital receipt requires the approval of the Policy and Resources Executive member.

2.2 There would not normally be a strong presumption in favour of allowing the service to retain up to 100% of the capital receipts in the circumstances of these disposals. The request for retention of 100% of the capital receipt is not related to capital expenditure which it is necessary to incur to enable the capital receipts to be generated. Nonetheless, on condition that Recreation and Heritage should expect to accommodate all of their capital investment priorities within their approved programme, inclusive of 100% retention of these capital receipts, this specific request could be approved.

3 Recommendation

The recommendation is set out within the decision sheet.

Section 100 D - Local Government Act 1972 - background papers

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