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Agenda item

Work Plan 2017/18

Minutes:

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.

 

RESOLVED:

An Update on the Tenant Consultative Group would become a standard item on the Corporate Scrutiny Agenda.

 

Proposed by Councillor A James and seconded by Councillor S Peaple.

 

 

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 Report – the group met on 7th September and have a number of recommendations for development of the Quarterly Performance Report which the Chair has asked for in writing.  There will be an additional meeting on the 15th November to examine the report prior to it going to Cabinet where the recommendations will be scrutinised in greater detail.

 

Local Infrastructure and Connectivity – It has been identified that future projects need to have a clear focus on connectivity and whilst speeds reported are relating to fibre, conventional broadband remains slow.  A further meeting of the working party will be scheduled for further work to be completed.

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