Decision details

            The Chairman, Councillor Dr Walsh, presented the Minutes from the meeting of the Cabinet held on 13 January 2019.

            Councillor Dr Walsh alerted Members to a recommendation at Minute 370 [Audit & Governance Committee – 21 November 2019 – Minute 311 – Update on Progress of the Council’s Property Investment Fund] and confirmed that the reasoning for proposing the change of the 75% threshold to 50% was that it would provide greater flexibility for the Council to manage its reserves and would make more money available for investment in the Council’s existing assets over the coming years. The recommendation was then seconded by Councillor Oppler. 

            The Council

                        RESOLVED

That the 75% threshold within section 5.1 of the Property Investment Strategy 2017-2022 be changed to 50%.