The report sought approval for the transfer of the shops portfolio, including any flats above the shops, from the Housing Revenue Account (HRA) to the General Fund (GF).  The portfolio comprised of 28 shops which were no longer used for housing purposes for which they were originally acquired. 

Cllr Mrs McKinlay MOVED and Cllr Hossack SECONDED the recommendations in the report and a vote was taken by a show of hands and it was:

RESOLVED   

1.    That the HRA shops portfolio including any flats above the shops to be transferred to the General Fund.

2.    For officers to apply for consent from the Secretary of State to transfer any flats above the shops from the HRA to the General Fund. 

REASON FOR RECOMMENDATION

To comply with legislation, the shops should be transferred from the HRA to the General Fund.  As 9 of the leases included the flats above and 2 further flats which were council owned, it would be prudent to transfer the flats to the General Fund.