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Town Council to seek best value in property acquisition

By newtown.wales

2 months ago

News Politics

A meeting of Newtown & Llanllwchaiarn Town Council to be held on 28/11/22 at 18:30. All meetings are held in public and members of the public are welcome to attend online.

  View the meeting on Microsoft Teams »

Town Councillors will discuss potential plans to purchase a property for outdoor staff and vehicles after lease comes to an end.

On Monday night at the next full meeting of Newtown & Llanllwchaiarn Town Council, councillors will discuss plans to move quickly to purchase or rent a new property for their outdoor staff and vehicles as the lease on the existing property comes to an end in February.

The current property, a unit on the Vastre Industrial Estate is rented from an investment firm which indicates that annual rent could rise from the current 9,000 to 18,200. 

As there are no plans to hold a meeting in December, the Town Clerk is recommending that the town council give officers the authority to act before time runs out.

The purchase of an alternative property by the town council would require permission from the Welsh Government to borrow the funds at a fixed interest rate from the HM Treasury through it's Public Loans Works Board. It is also likely that the town council will use it's £90,000 major refurbishment fund to offset the cost.

The full recommendation is:

5.1 To require officers to seek appropriate property for continuity of operations and to justify in writing the choice as best value2to the public purse

5.2 To permit either rent or buy whicheveris justified in writing as best value to the public purse

5.3 To permit either ‘out of community’ or ‘in community’ whichever is justified in writing as best value to the public purse

5.4 If renting, and a property becomes available for rent,to give permission to officers to proceed with a lease provided it is justified in writing as best value to the public purse

5.5 If purchasing and a property becomes available for purchase,to give permission to officers to proceed with purchase, provided it is justified in writing as best value to the public purse and a written business case report is provided to council in respect of valuation and surveyed condition of the property. This business case may require a special meeting to be convened in December or January if time is short

5.6 If purchasing to seek a loan sanction now,so that the council can move quickly if needed and to give permission to officers to process the borrowing (normally done through the public works loans board at fixed rates)

5.7 If purchasing, to allocate some or all ofthe council’s Major Refurbishment Fund (accountable directly to council) currently at £90,000 to the purchase.

 


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