RECOMMENDED TO COUNCIL: That the Property Acquisition & Development Strategy, including Appendices be approved
.
REASONS FOR DECISION:
(1) To give effect to the Property Acquisition & Development Strategy so NHDC has in place a clear basis for pursuing property opportunities that are for the purposes of its functions or the benefit, improvement or development of its area.
(2) To put in place a framework of robust and practical guiding principles that apply governance and rigorous appraisal to property acquisition and development decisions by NHDC, in order to safeguard the necessary capital expenditure and taxpayers’ resources.