There is a full meeting of the Highland Council on Thursday (30th October). One of the items on the agenda is "Nairn Common Good Fund, Restitution of Rental Income – Lochloy Caravan"
A report going before the Council can be accessed by clicking on item 18 of the agenda on this page here.
The report states in relation to the Council's failure to implement rent rises in relation to the caravan site: "...As a result £0.187m has been lost in both increased rent and interest as a result of the Council’s failure to meet the standard of administration reasonably expected. £0.147m relates to the loss of rental income; and £0.040m relates to the loss of interest on that money, based on the average rate of interest earned by the Council in each year over the period on other investment funds."
At the end of the the report (signed by Derek Yule, Director of Finance and David Haas, Inverness City Manager) their are recommendations made to the Council.
"Council is invited to:
i. Agree to accept that the Council has not met the standard of administration expected in respect of its duty to manage the funds and assets of the Nairn Common Good Fund account under control of the Council.
ii. Agree to pay restitution to the Nairn Common Good Fund Account totalling£0.187m.
iii. Consider whether the Council should pay a cash settlement to NCGF or write down its investment in the Sandown Lands, as per paragraph 3.2
iv. Note progress with the ongoing review of the Nairn Common Good Fund."