Property Investment and Disposal Policy
Update
This consultation is now closed.
A report was presented to the Council Meeting on Tuesday 18 June 2024 where the Property Investment and Disposal Policy was adopted.
Background
The City of Vincent is seeking community feedback on a new Property Investment and Disposal Policy which sets out a framework for how the City's property portfolio is to be managed.
On 17 November 2020, Council resolved to adopt the Property Management Framework (Framework) to ensure any City owned and managed properties that are leased or licenced are managed in a consistent, fair and transparent manner.
The Framework and associated Property Management Policy do not include any provisions for strategic investment, management, acquisition and/or disposal of City owned and controlled land and/or assets.
The new Property Investment and Disposal Policy aims to provide guidance on these areas.
At the February meeting, Council approved the proposed draft Policy for the purposes of community consultation.
Policy details
The purpose of the proposed Policy is to provide a framework for the strategic property management of the City of Vincent’s property portfolio with the aim of achieving a positive long-term planning, economic and environmental outcomes for the City of Vincent.
The proposed Policy provides a framework to ensure the City's acquisition, management, capital investment and disposal of property:
- is consistent, transparent and compliant.
- makes best use of the City’s Property Portfolio.
- reflects community aspirations as contained within the Strategic Community Plan and Corporate Business Plan.
It supports the City to maintain a property portfolio resilient to changing market conditions and which generates revenue in the long-term best interests of the community.
The policy also sets out that acquisition and disposal are to be undertaken in a way that ensures:
- due probity of process
- optimal financial return
- an acceptable level of risk.
The proposed Property Investment and Disposal Policy is available to view in the document library to the right of this page.
Share your thoughts
This consultation closed 4pm Wednesday, 10 April 2024.
What will happen next?
After this consultation period closes, feedback we receive will be reviewed and a report presented to Council for consideration.
Everyone who provides feedback, and contact details, will be notified when this will be considered by Council. Members of the public are welcome to attend the Council Briefing and Council Meeting to ask questions or comment on the proposal.
Information on this page is available in alternative formats on request.
