That the Heads of Terms to be used under the Model for Community Asset Transfer, as developed by the Member Task and Finish Group be approved.
The Executive considered a report setting out the Heads of Terms to be used under the Model for Community Asset Transfers.
Councillor Mark Ashwell, Deputy Executive Member for Regeneration and Communities, advised the meeting that a review of all £700m worth of Council assets was taking place and during this review a number of opportunities to transfer assets to towns, parishes and community organisations had been identified. Members were reminded that the Executive had previously agreed a set of proposals for developing a process to fast track community asset transfers. Following consideration by a Task and Finish Group terms and conditions by which community assets would be transferred was developed. The proposed model would be transparent, consistent and equitable.
Councillor Ashwell highlighted a number of clauses within the Heads of Terms including that leases up to 30 years could be provided which would enable grants to be applied for. It was noted that this would not prevent leases of over 30 years being provided if appropriate as this could be agreed by the Executive. There would also be break clauses for both parties and opportunities for a no rent/shared profit option.
RESOLVED: That the Heads of Terms to be used under the Model for Community Asset Transfer, as developed by the Member Task and Finish Group, be approved.