Venue: Committee Room 1, Marmion House, Lichfield Street, Tamworth, B79 7BZ. View directions
Contact: Democratic Services 01827 709264
Apologies for Absence
Apologies for Absence were received from Councillor R Kingstone. Councillor S Goodall was nominated as a substitute for Councillor R Kingstone in accordance with rule 4.4.4 of the Constitution.
The Minutes of the previous Corporate Scrutiny Committee held on the 21st June 2017 were approved and signed as a correct record.
(Moved by Councillor A James and seconded by Councillor S Peaple)
Declarations of Interest
To receive any declarations of Members’ interests (personal and/or personal and prejudicial) in any matters which are to be considered at this meeting.
When Members are declaring a personal interest or personal and prejudicial interest in respect of which they have dispensation, they should specify the nature of such interest. Members should leave the room if they have a personal and prejudicial interest in respect of which they do not have a dispensation.
Councillor S Peaple declared an interest as a Trustee of The Starfish Winter Nightshelter For The Homeless.
Councillor P Standen declared an interest as a Volunteer of The Starfish Winter Nightshelter For The Homeless.
The Leader of the Council, Councillor D Cook and The Chief Operating Officer, Andrew Barratt attended the meeting to provide an update on two items of the work plan –
Ø Corporate Investment Strategy
Ø Post Creation of a Company
Corporate Investment Strategy
The strategy is a sustainability strategy enabling the Council to become more commercial ‘surviving move to thriving’. Throughout the consultation stage it should enable a Governance structure to be developed not as a political election tool and will involve a cross party concept. The focus is to develop assets held and create regeneration within the area; this is currently being developed by Trowers & Hamlins.
· Redevelopment of areas within the Town
There would be specific criteria outlined which would for example include a specified financial percentage of return; capital growth; demonstrate a reduction of deficient. A full commercial assessment would be completed to ensure the viability of any proposed scheme under the Corporate Investment Strategy.
· Strategic land and property investment
Would identify sites around the Town that are strategic in nature that may be used to develop and fulfil a need for example for second generation offices; can we provide a different sort of housing. This would help to build up the Councils asset holding.
· Property Funds
How to structure investment through a property portfolio. The portfolio would be diverse in nature and spread throughout the country to ensure that any risk is spread and the growth and revenue return levels as of an acceptable level.
Post Creation of a Company
The opportunity for a Local Authority Trading Company is being explored, ideally to be set up by March 2018.
The Local Authority Trading Company would operate independently from Tamworth Borough Council. The Council would be sole shareholder of the Company receiving a dividend. Currently detailed legal support is being obtained to ensure an informed Business Plan Process is developed for the Trading Company. The Company would be brought to account by the shareholder at and AGM where there would be a clear role for Scrutiny.
Councillor Cook and Andrew Barratt will provide a progress update at a Corporate Scrutiny meeting to be held at a confidential meeting in January 2018.
Thanks were extended to Councillor Cook and Andrew Barratt for attending the meeting.
Tenant Consultative Group was due to meet on a monthly basis with Councillor R Ford and Councillor P Standen being invited to attend. However, both Councillors had heard anything and when chased the group confirmed they would in future invite both Councillors. The three items that were on the Forward Plan under this group would be picked up and feedback provided for the next meeting.
Working Group Feedback
Tamworth Borough Council Properties –Councillor J Oates advised that due to the change in the Executive management this matter was still to be progressed.
Quarterly Performance ... view the full minutes text for item 16.