Issue - meetings

The report recommends the freehold transfer of Jubilee Park Deeping St James to Deeping St James Parish Council.

Purpose of report

The report recommended the freehold transfer of Jubilee Park, Deeping St. James to Deeping St. James Parish Council.

Decision

That Cabinet:

1.    Approves the freehold transfer of Jubilee Park Deeping St. James to Deeping St. James Parish Council for a nominal consideration of £1.

2.    Delegates authority to the Chief Finance Officer in consultation with the Cabinet Member for Housing and Property to agree Heads of Terms for the disposal.

Alternative options considered and rejected

South Kesteven District Council could have decided to retain Jubilee Park.

Reason for decisions

With the Cabinet Member for Housing and Property having given apologies, the Leader of the Council introduced the report.

Heads of Terms had been negotiated with Deeping St. James Parish Council – these included:

·         Freehold transfer for a nominal consideration of £1

·         Pre-emption right in favour of the District Council to re-purchase the site at the original sale price should the Parish Council wish to sell the land

·         Both parties responsible for their legal costs

The proposal was that disposals should be at nominal consideration of £1. This could have amounted amount to an undervalue against a strict ‘open market’ valuation of the asset, however, the Council had the benefit of a general consent from the Secretary of State for such disposals if the undervalue was less than £2million (which it would be in this case), and the proposal contributed to promoting economic, social, or environmental wellbeing in its area. It was considered that placing ownership and maintenance of this sort of asset in the hands of the local community through its Parish Council was justifiable as contributing to social and environmental wellbeing. 

The District Council would no longer be incurring the ongoing financial responsibility for the operational and maintenance aspects of the asset and this cost saving would offset the disposal of Jubilee Park for a nominal consideration.

It was proposed that both parties would meet their own respective legal costs

associated with the transfer.