howard mcsweeney1 wrote: forced into this
The nasty man made me do it? Don't be so silly Howard.
Notwithstanding, this is another of the mad schemes which have ALL PARTY SUPPORT on DDC to which I alluded on another thread and which the record shows I VOTED AGAINST.
Don't say you weren't warned!
(Just so you can get your head around the figures DDC total budget is only C.£13/14 million a year and they are talking about borrowing about FIFTEEN times this amount.)
The Director of Finance, Housing and Community presented the report on the Property Investment Strategy.
It was moved by Councillor M D Conolly, duly seconded and
RESOLVED: (a) That a supplementary capital budget of £200 million, for the acquisition of commercial and residential assets for the economic regeneration and well-being of the district and for investment purposes, be approved.
(b) That a supplementary revenue budget of £200,000 from the Regeneration Reserve, for the use of appropriate external professional support to establish a framework and assist with acquiring properties, be approved.
(c) That the implementation of the Investment Property Strategy, and the investment strategy criteria set out at Appendix 1 of the report, be adopted.
(Councillor D Hannent requested that his abstention from voting be recorded in accordance with Council Procedure Rule 18.5)
(Councillor R J Frost requested that his vote against be recorded in accordance with Council Procedure Rule 18.5)