(i) Re-affirms the commitment to a property investment fund as a part of the strategy for addressing future budget shortfall.
(ii) Agrees the approach as outlined in this report and the investment criteria attached to this report.
(iii) Agrees to delegate to the Service Director – Strategic Finance and Commercialisation, in consultation with the Cabinet Member for Resources, the ability to amend the property investment strategy prior to making the first additional purchase into the Fund.
(iv) Notes the addition and spend of £200M. It is proposed to include this sum in the 2019/20 capital programme. Whilst it will be included in full, in practice it is likely there will be a need to spread such an investment beyond the current year. This will be funded by Council resources.