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Issue - meetings

Corporate Asset Strategy

Meeting: 19/03/2020 - Executive (Item 709)

709 Corporate Asset Strategy pdf icon PDF 358 KB

Decision:

AGREED RECOMMENDATIONS

Reason for decision – as specified in the report.

Other options considered - none.

Conflicts of interest/dispensations granted – none.

Link to the report

 

Minutes:

 

RESOLVED:

 

2.1     That the work undertaken in the last six months to identify ways to strengthen the Council’s approach to the management of its non-housing property and asset base be noted.

 

2.2     That a corporate asset strategy would help ensure a joined-up approach across the Council’s total asset base, and would not impact plans to accelerate the Council’s house building programme be noted.

 

2.3     That the development of a 10-year corporate asset strategy, to be finalised and published in late 2020 be agreed.

 

2.4     That the strategy will incorporate the following, be agreed:

 

a) a core strategy designed to build assets that enable Islington to become a fairer place and provide a key enabler for the Fairer Together & Inclusive Economy programmes, as well as delivering modern workspaces and maximising the return from the Council’s commercial assets

 

b) the creation of a Council-wide and joined-up asset governance framework, comprising new Corporate Asset Development and Major Projects Delivery Boards, an enhanced New Homes Board, and an aligned and strengthened Borough Investment Panel

 

c) the creation of a new operating model to deliver a stronger core, comprising a new senior leadership role, consolidation and strengthening of resources into a new Corporate Landlord function, and a joint working approach with housing capital delivery functions

 

d) an asset management plan to support delivery of a modern, fit for purpose estate, underpinned by investment in a new asset management system, comprehensive condition and land use/lease data, and an initial capital investment to tackle the repairs backlog and complete part-funded schemes

 

e) the design and implementation of a rolling asset review process, designed to ensure that the Council’s buildings and other physical assets are utilised to deliver effective, value for money services as well as maximising social and commercial value

 

f) a corporate category management approach in relation to the procurement of property and construction related professional services and contractors, to maximise value for money and social value, and to manage Brexit related risks

 

g) a comprehensive 10-year capital programme, underpinned by a long term investment strategy and robust treasury management approach.

 

2.5     That the Transformation Reserve will be used to fund the implementation of the strategy as well as initial funding for the new Chief Officer post, pending the development of a long-term funding solution, at an estimated cost of £750,000 be agreed.

 

Reason for decision – to improve the management of the council’s property assets and support the new build programme.

Other options considered – none other than as specified in the report.

Conflicts of interest/dispensations granted – none.