Agenda, decisions and minutes

There were no apologies for absence.

Audio Recording – 0:00

There were no apologies for absence.

Members should notify the Chair of other business which they wish to be discussed at the end of either Part I or Part II business set out in the agenda. They must state the circumstances which they consider justify the business being considered as a matter of urgency.

The Chair will decide whether any item(s) raised will be considered.

There was no other business notified.

Audio recording – 1:30

There was no other business notified.

Members are reminded that any declarations of interest in respect of any business set out in the agenda, should be declared as either a Disclosable Pecuniary Interest or Declarable Interest and are required to notify the Chair of the nature of any interest declared at the commencement of the relevant item on the agenda.  Members declaring a Disclosable Pecuniary Interest must withdraw from the meeting for the duration of the item. Members declaring a Declarable Interest, wishing to exercise a ‘Councillor Speaking Right’, must declare this at the same time as the interest, move to the public area before speaking to the item and then must leave the room before the debate and vote.

(1)       The Chair welcomed those present at the meeting;

(2)       The Chair advised that much of the meeting would be conducted in Part 2 private session and that if/when the meeting moved in to Part 2 the live stream would be ended. When the meeting returned to public session the live stream would not resume. Public notice of any decisions taken would be made in the usual way.

(3)       The Chair drew attention to the item on the agenda front pages regarding Declarations of Interest and reminded Members that, in line with the Code of Conduct, any Declarations of Interest needed to be declared immediately prior to the item in question.

Audio recording – 1:35

(1)       The Chair welcomed those present at the meeting;

(2)       The Chair advised that much of the meeting would be conducted in Part 2 private session and that if/when the meeting moved in to Part 2 the live stream would be ended. When the meeting returned to public session the live stream would not resume. Public notice of any decisions taken would be made in the usual way.

(3)       The Chair drew attention to the item on the agenda front pages regarding Declarations of Interest and reminded Members that, in line with the Code of Conduct, any Declarations of Interest needed to be declared immediately prior to the item in question.

To receive petitions, comments and questions from the public.

There was none.

Audio recording – 2:03

There was none.

RESOLVED:

(1)       To approve the business case and agree to commence trading of the holding company (Broadwater Hundred Limited) and the incorporation and trading of a subsidiary company for the purpose of letting out Harkness Court

(2)       To provide delegated authority to the Service Director – Commercial and Service Director – Legal and Community to agree the final company documents (prior to any necessary company approval) and in consultation with the Executive Member for Enterprise, the Arts and Transport to nominate the Directors for the companies.

REASON FOR DECISIONS: To enable the Council companies to trade and provide more commercial opportunities to benefit the Council.

N.B This item was considered after the Part 2 item of the same title.

The Service Director – Commercial presented the report entitled Trading Company Update along with the appendices and advised that this report provided a general overview to complement the more detailed business case presented in the Part 2 report.

Councillor Sam Collins noted that he was keen to support the recommendations as they would provide the necessary vehicle for the Commercial team to begin projects that would be of benefit to the community.

Councillor Ian Albert proposed an amendment to the recommendations as follows: to add “in consultation with the Executive Member for Enterprise, the Arts and Transport” before “to nominate..”. The amendment was accepted.

On the vote it was:

RESOLVED:

(1)       To approve the business case and agree to commence trading of the holding company (Broadwater Hundred Limited) and the incorporation and trading of a subsidiary company for the purpose of letting out Harkness Court

(2)       To provide delegated authority to the Service Director – Commercial and Service Director – Legal and Community to agree the final company documents (prior to any necessary company approval) and in consultation with the Executive Member for Enterprise, the Arts and Transport to nominate the Directors for the companies.

REASON FOR DECISIONS: To enable the Council companies to trade and provide more commercial opportunities to benefit the Council.

To consider passing the following resolution:

That under Section 100A of the Local Government Act 1972, the Press and Public be excluded from the meeting on the grounds that the following report will involve the likely disclosure of exempt information as defined in Paragraphs 3 of Part 1 of Schedule 12A of the said Act (as amended).

RESOLVED:  That under Section 100A(4) of the Local Government Act 1972, the public and press be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of the said Act (as amended).

Audio recording – 9:14

Councillor Ian Albert proposed and on the vote it was:

RESOLVED:  That under Section 100A(4) of the Local Government Act 1972, the public and press be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in Paragraphs 3 Part 1 of Schedule 12A of the said Act (as amended).

RESOLVED: That the Sub-Committee note the content of the Part 2 report before coming to a decision in public session.

N. B As this item was considered in private session there is no audio recording.

The Service Director – Commercial presented the report entitled Trading Company Update along with Appendix A – Business Case and Appendix B – Financial Modelling.

The following Members asked questions and took part in debate:

·                Councillor Sam Collins

·                Councillor Paul Clark

·                Councillor Ian Albert

The Service Director – Commercial, Service Director – Resources, Service Director – Legal & Community and Legal Commercial Team Manager gave advice and answered questions.

On the vote it was:

RESOLVED: That the Sub-Committee note the content of the Part 2 report before coming to a decision in public session.