6 Hilary Street, St. Helier: Sale: Use of Proceeds

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A decision made 30 July 2012:

Decision Reference: MD-TR-2012-0067
Decision Summary Title:	Use of Sale Proceeds – 6 Hilary Street		Date of Decision Summary:	19th July 2012
Decision Summary Author:	Head of Financial Management, Accounting and Reporting		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Use of Sale Proceeds – 6 Hilary Street		Date of Written Report:	19th July 2012
Written Report Author:	Decision Support Officer		Written Report : Public or Exempt?	Exempt 3.2.1 (a)(x)
Subject: Use of sale proceeds of 6 Hilary Street by the Housing Department.
Decision(s): The Minister approved the use of the sale proceeds of 6 Hilary Street by the Housing Department for their Capital Works Programme. Once a sale is agreed, the States will be notified by Jersey Property Holdings in the normal way in accordance with Standing Order 168.
Reason(s) for Decision: Article 18(5) of the Public Finances (Jersey) Law 2005 states that the Minister may authorise a States funded body that has disposed of an asset to use all or a specified amount of the proceeds of the sale for revenue expenditure or a specified capital project.
Resource Implications: There are no manpower implications. There will be no impact on net States expenditure as a result of this decision. The proceeds of the sale will be allocated to the Housing Department’s Capital Works Programme and will not be available for any other capital schemes.
Action required: Head of Financial Management, Accounting and Reporting to notify the Acting Director of Jersey Property Holdings and the Housing Finance Director that this decision has been approved.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: