Ann Court Site, St. Helier: Transfer to Jersey Property Holdings

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[THIS DECISION HAD BEEN RESCINDED BY MD-H-2013-0059] A decision made 28 June 2013:

Decision Reference: MD-H-2013-0047
Decision Summary Title :	DS – Proposed transfer of former Ann Court site		Date of Decision Summary:	19th June 2013
Decision Summary Author:	Director of Strategy		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Proposed transfer of former Ann Court site		Date of Written Report:	19th June 2013
Written Report Author:	Director of Strategy		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: Ann Court site- transfer to Jersey Property Holdings
Decision(s): The Minister agreed to; Recommend to the Minister for Treasury & Resources that the former Ann Court site presently being utilised by T&TS as public car parking be transferred to the Jersey Homes Trust as soon as practicable and on terms to be agreed between the Trust and Jersey Property Holdings and on the basis that any residual value following development being transferred to the Housing Department or the new Housing Company proposed to be incorporated on 1st July 2014. Immediately transfer the whole site with the exception of 65 to 70 Ann Court, 33, 35, 37 & 39 Ann Street and 1 & 2 Clifton Place, from the balance sheet of the Housing Department to that of Jersey Property Holdings subject to the rental income from T&TS continuing to be paid to the Housing Department until the end of the present lease on 15th January 2015. The future transfer of 65 to 70 Ann Court, 33, 35, 37 & 39 Ann Street and 1 & 2 Clifton Place at such time as it is necessary to allow development to commence.
Reason(s) for Decision: The transfer reflects the appropriate accounting treatment for the property, based on the expectation that it will not be developed by the Housing Department.
Resource Implications: The transfer between two entities within the States has no impact on either JPH’s or Housing’s near cash revenue account on transfer. The rental payment from TTS until January 2015 will be received by JPH.
Action required: Asset manager to oversee the transfer of the assets
Signature:		Position: HOUSING MINISTER
Date Signed:		Date of Decision (If different from Date Signed):