To proposed that a policy of land acquisition is put in place that allows Central Bedfordshire Council to replenish its estate through judicious purchases of land where these fit strategically with our current estate.

RECOMMENDED to Council

That a new item be added to the Capital Programme to cover land purchases up to a maximum combined total of £8M for the financial year 2016/17, subject to the revenue impact being containable within the existing budget and the completion and sign off of a suitable business case.

The Executive considered a report from the Executive Member for Corporate Resources that set out a proposed policy for land acquisition to enable the Council to replenish its estate through judicious purchases.

Reason for decision:  Currently over 200 acres of ex-agricultural land was being sold and whilst disposing of this land made good financial and business sense it meant that the Council’s agricultural asset base was shrinking significantly.  Including funding within the capital programme would allow, as and when appropriate, the Council to replenish its estate.

RECOMMENDED to Council

that a new item be added to the Capital Programme to cover land purchases up to a maximum combined total of £8M for the financial year 2016/17, subject to the revenue impact being containable within the existing budget and the completion and sign off of a suitable business case.