Belle Vue Site, St. Brelade: Transfer from Property Holdings to Housing for development of social housing

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A decision made 30 January 2012:

Decision Reference: MD-TR-2012-0004
Decision Summary Title:	Transfer of Belle Vue Site from Property Holdings to Housing		Date of Decision Summary:	10/1/2012
Decision Summary Author:	Interim Director - JPH		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Transfer of Belle Vue Site from Property Holdings to Housing		Date of Written Report:	10/1/2012
Written Report Author:	Interim Director - JPH		Written Report : Public or Exempt?	Public
Subject: The transfer of the Belle Vue site, St Brelade from Jersey Property Holdings (JPH) to Housing for future development as social and affordable housing.
Decision(s): The Minister approved the transfer of the Belle Vue Site, St Brelade from Jersey Property Holdings to Housing.
Reason(s) for Decision: The transfer reflects the appropriate accounting treatment for the property on the basis that the site will be developed by the Housing Department as social and affordable housing. Article 15(1)(a) of the Public Finances (Jersey) Law 2005 states that all or any part of the amount appropriated by a head of expenditure may, with the approval of the Minister for Treasury and Resources, be used for the purposes of another head of expenditure.
Resource Implications: The transfer has no impact on either JPH’s or Housing’s near cash revenue account on transfer. The Medium Term Financial Plan will be adjusted to reflect the foregone receipts assumed from the disposal of this site, which will have an impact on the forecast Consolidated Fund balance.
Action required: Treasury to arrange for the asset and any associated budgets to be transferred from the JPH to Housing Department area of the States balance sheet.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: