Issue - meetings

To consider a report of the Director of Resources setting out a proposal for the introduction of a capital receipts incentive scheme for local areas.

The Director of Resources submitted a report setting out a proposal for the establishment of a capital receipts incentive scheme for local areas. In determining this matter, the Board took into consideration all matters contained within the accompanying report.

Members discussed the proposal for localities to retain a proportion of the capital receipts generated in an area and received assurances that existing commitments would be honoured. 

RESOLVED –

(a)  That the establishment of a Capital Receipts Incentive scheme, as set out within section 3 of the submitted report, with effect from April 2012, be approved.

(b)  That a period of consultation with elected Members on the proposed scheme be approved.