Issue - meetings

Report of Commercial Director (Bicester)

Purpose of report

The purpose of this report is to seek Executive approval to allocate funds from windfall income streams secured in 2014/13 in order to progress the priority actions arising from the Asset Management Strategy Review.

Recommendations

The meeting is recommended to:

1.1         Note the proposed priority actions arising from the asset management plan (Para 2.4).

1.2         Note that the monitoring of the asset management strategy is currently undertaken by the Accommodation Asset Strategy Board who will be asked to review terms of reference and membership as a result of the asset review

1.3         Approve the allocation of up to £125k from 2014/15 windfall income which will allow the progression of the key activities which focus on the priority actions arising from the Asset Management Strategy Review.

1.4         Note that a comprehensive action plan is being developed that will ensure the vision set out in the review document will be delivered by 2019. This action plan will be presented to the Executive in March 2015.

Resolved

(1)          That the proposed priority actions arising from the asset management plan be noted (those in bold indicate a 2014/15 priority):

1)    Asset Strategy Resource Plan

2)    Data and Systems Plan

3)    Operational Offices Plan

4)    Operational Depot Plan

5)    Car Parks Plan

6)    Leisure Buildings Plan

7)    Community Buildings Plan

8)    Local Centres Plan

9)    Commercial Investment Plan

(2)          That it be noted the monitoring of the asset management strategy was currently undertaken by the Accommodation Asset Strategy Board who would be asked to review terms of reference and membership as a result of the asset review.

(3)          That the allocation of up to £125k from 2014/15 windfall income which would allow the progression of the key activities which focus on the priority actions arising from the Asset Management Strategy Review be approved.

(4)          That it be noted a comprehensive action plan was being developed that would ensure the vision set out in the review document would be delivered by 2019. This action plan will be presented to the Executive in March 2015.

The Commercial Director (Bicester) submitted a report which sought approval to allocate funds from windfall income streams secured in 2014/13 in order to progress the priority actions arising from the Asset Management Strategy Review.

Resolved

(1)          That the proposed priority actions arising from the asset management plan be noted (those in bold indicate a 2014/15 priority):

1)    Asset Strategy Resource Plan

2)    Data and Systems Plan

3)    Operational Offices Plan

4)    Operational Depot Plan

5)    Car Parks Plan

6)    Leisure Buildings Plan

7)    Community Buildings Plan

8)    Local Centres Plan

9)    Commercial Investment Plan

(2)          That it be noted the monitoring of the asset management strategy was currently undertaken by the Accommodation Asset Strategy Board who would be asked to review terms of reference and membership as a result of the asset review.

(3)          That the allocation of up to £125k from 2014/15 windfall income which would allow the progression of the key activities which focus on the priority actions arising from the Asset Management Strategy Review be approved.

(4)          That it be noted a comprehensive action plan was being developed that would ensure the vision set out in the review document would be delivered by 2019. This action plan will be presented to the Executive in March 2015.

Reasons

It is important that a number of specialist reviews are commissioned in this financial year in order to inform the work programme, capital programme and current strategic development projects. It has been estimated that the resources required total £125k in 2014/15 and these costs can be met from windfall income subject to Executive approval.

The draft action plan will be presented to the governing board in Jan 2015 and then to Executive in March 2015.

Alternative Options

There is an option not to provide funding during 2014/15 and submit bids for the 2015/16 budget process. This is not recommended as a number of priority actions require resources now as they impact on other Council projects and priorities.