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3.1 Deputy J.A. Martin of St. Helier of the Minister for Transport and Technical Services regarding the loss of parking at Green Street:
Can the Minister confirm whether his department will receive compensation for the loss of parking at Green Street and, if so, identify how much this will be for, from which revenue budget this will come and whether it relates to just the 91 spaces which will be lost or will it take into consideration the loss of revenue had the car park been extended as planned?
Deputy K.C. Lewis of St. Saviour (The Minister for Transport and Technical Services):
I can confirm that early discussions have been held between T.T.S. (Transport and Technical Services) and Treasury regarding the loss of revenue to the Jersey Car Park Trading Account and it is currently proposed, should the police headquarters development proceed, that the Trading Account's annual return to Treasury will be reduced by £100,000.
[9:45]
This sum relates solely to the loss of parking revenue at Green Street Car Park and does not take any account of opportunity of costs relating to any other potential future uses of the site. Should the police headquarters development be approved, responsibility for the land will be internally transferred within the States at its current value as a surface car park to Jersey Property Holdings, when it will subsequently be re-valued as office development land. There will be no impact on the States' finances as a result of this internal land transfer.
3.1.1 Deputy J.A. Martin:
Just to clarify, will the £100,000 continue until the land is re-valued or continue indefinitely for the 91 spaces?
Deputy K.C. Lewis :
It will be an annual return to the Treasury. It will be reduced by £100,000.