A "fire sale" of buildings and land, such as libraries and farms, has been ruled out by council leaders, despite the multi-million-pound financial pressures Norfolk's biggest authority is facing.
Norfolk County Council is prepared to sell Norwich's adult education base Wensum Lodge - sparking concern that other council-owned properties could be sold off to bring in much-needed cash.
The council is making almost £60m of cuts and savings this year and is facing the prospect of a further £42.6m in the next financial year - at a time when rising interest rates is making it harder for County Hall to rely on borrowing money.
But Andrew Jamieson, cabinet member for finance insisted the authority is not planning a major sale of other council property.
The authority owns more than 1,300 buildings and land, including farms, libraries, schools, recycling centres, fire stations and museums.
He had recently warned that major schemes, such as roads and school extensions, might not be able to go ahead because of high interest rates on borrowing.
Dan Roper, Liberal Democrat county councillor for Hevingham and Spixworth, raised the issue at a meeting of the council's corporate select committee on Monday (July 10).
He asked: "With the increased cost of borrowing, it leads one to think about capital receipts in terms of funding future capital programmes."
He asked whether the council was looking to sell more of the authority's land and property to raise money for capital projects - which are those where new facilities are built or improvements are made to existing assets.
He said: "I think residents might be fearing some sort of fire sale in order to pay for major infrastructure."
Mr Jamieson said the council was always looking at the ways its property portfolio could "work more efficiently".
He said the authority might not need as much office space as it once did, given the "shift" online - which was part of the reason for the decision to stop offering adult learning at Wensum Lodge.
But he said: "Are we specifically looking into fire sales? No, we are not. I can categorically alleviate any concerns in that regard."
ANALYSIS
There is no doubt that the mood music from County Hall has changed in recent weeks, as council leaders consider the financial challenge which will face them in future years.
Norfolk County Council's cabinet member for finance, Andrew Jamieson, has been doing the rounds of council committees to talk about the financial planning the Conservative-controlled authority is having to do.
On the back of some £60m of cuts and savings this year, Mr Jamieson has been trailing how the authority will need to save a further £42.6m next year - and millions more in subsequent years.
A point which Mr Jamieson has made repeatedly is that the council cannot rely on borrowing any more as a way to cover the costs of projects.
The council has previously come under fire for the authority's use of borrowing - close to £850m - which means the council is paying nearly £31m a year in interest.
Mr Jamieson has always said he was comfortable with that, but the rise in interest rates means he has acknowledged borrowing will need to be curtailed.
That, he has warned, could mean that it becomes harder to generate money for projects such as roads and schools.
It feels like the scene is being set for the council's purse strings to tighten.
However, with the council putting Wensum Lodge up for sale, it has led to speculation the council could try to sell more of its assets to generate more money for projects.
It prompted a question at a council meeting this week over whether we should expect a 'fire sale' of council assets.
The council owns a lot of property, more than 1,300 buildings and land, in fact. That includes farmland, libraries, recycling centres and schools.
Mr Jamieson insists a fire sale of such property is not on the cards - that the council will continue its current approach of selling assets where appropriate to generate capital receipts.
But, as the pressure mounts, it will be interesting to see whether the temptation to cash in on properties the council owns becomes greater.
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