Issue - meetings

(i)            That the draft Commercial Strategy be approved.  

(ii)           That the Constitution Working Group be requested to consider any changes that may be required to the Council’s Constitution in light of the strategy, including schemes of delegation and finance procedure rules, for approval by full Council.

(iii)          That the Finance, Assets and Performance Scrutiny Committee review and comment on the strategy at its December meeting;

(iv)         That commercial investment advisers be appointed  to undertake a review of the Council’s commercial property portfolio and make recommendations for investment or disinvestment (this contract is currently out to tender with an expected award by the end of October 2019);

(v)          That officers to work up investment proposals for further consideration by Cabinet.

A report was submitted to Cabinet seeking approval of the Commercial Strategy.

This was a new Strategy for the Council which provides a framework for the Council’s commercial activity. A copy of the Strategy was appended to the report.

The Strategy would be reviewed by the Finance, Assets and Performance Scrutiny Committee in December.

Members were advised that a new Director of Regeneration and Commercialisation had been appointed and would be starting in early 2020.

Members welcomed the report stating that it was a change of impetus for the Council – going in a new direction.  It would also help in the delivery of the Medium Term Financial Strategy.

Resolved:     (i)         That the draft Commercial Strategy be approved.  

(ii)          That the Constitution Working Group be requested to consider any changes that may be required to the Council’s Constitution in light of the strategy, including schemes of delegation and finance procedure rules, for approval by full Council.

(iii)         That the Finance, Assets and Performance Scrutiny Committee review and comment on the strategy at its December meeting;

(iv)      That commercial investment advisers be appointed  to

undertake a review of the Council’s commercial property portfolio and make recommendations for investment or disinvestment (this contract is currently out to tender with an expected award by the end of October 2019);

(v)       That officers to work up investment proposals for further

          consideration by Cabinet.