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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

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

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[THIS DECISION RESCINDS MD-H-2013-0047] A decision made 6 August 2013:

Decision Reference:  MD-H-2013-0059 

Decision Summary Title :

DS –Proposed transfer of former Ann Court site – resource implications

Date of Decision Summary:

5th August  2013

Decision Summary Author:

 

Asset Manager

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 – resource implications

Date of Written Report:

5th August  2013

Written Report Author:

Asset Manager

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: To approve the transfer of the former Ann Court site to Jersey Property Holdings

 

Decision(s):

The Minister

 

  1. Rescinded MD-H-2013-0047.

 

  1. Recommended to the Minister for Treasury & Resources that the former Ann Court site presently being utilised by Transport and Technical Services (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 (JPH) 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.

 

  1. Agreed to 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.

 

  1. Agreed to 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 T&TS until January 2015 will continue to be received by the Housing Department and the proposed New Housing Company.

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):

 

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

Date of Report: - 5th August 2013

 

REPORT TO THE HOUSING MINISTER

 

PROPOSED TRANSFER OF THE FORMER ANN COURT SITE –

RESOURCE IMPLICATIONS

 

PURPOSE

 

To amend the resource implications as set out in MD-H-2013-0047.

 

BACKGROUND

 

The Minister will recall that on 28th June 2013 he approved proposals for the transfer of the former Ann Court site from the Housing Department to Jersey property Holdings.

 

That approval incorrectly set out that the parking rental presently paid by TTS to Housing until 15th January 2015 would, on transfer, be paid to Jersey Property Holdings.  This is not the case and the parking income will continue to be paid to the Housing Department until 30th June 2014 and from that date to 15th January 2015 to the new Housing Company to be created pursuant to P.63/2013.

 

RECOMMENDATIONS

 

That the Minister:

 

  1. Rescind MD-H-2013-0047.

 

  1. 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 be transferred to the Housing Department or the new Housing Company proposed to be incorporated on 1st July 2014.

 

  1. Agree to 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.

 

  1. Agree to 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.

 

 

REPORT PREPARED BY:-        ………………………………………….

 

     David Reid, Asset Manager

 

 

REPORT CHECKED BY:-     ………………………………………...

 

     John Hamon, Finance Director

 

 

REPORT APPROVED BY:-     ………………………………………...

 

     Carl Mavity, Director of Strategy

 

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