Venue: King Edmund Chamber, Endeavour House, 8 Russell Road, Ipswich. View directions
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DECLARATION OF INTERESTS Minutes: There were no declarations made by Councillors.
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JOS/21/1 TO CONFIRM THE MINUTES OF THE MEETING HELD ON 24 MAY 2021 PDF 308 KB Minutes: 65.1 Councillor Ekpenyong referred to paragraph 60.11 and asked that a ‘t’ was added to the word ‘though’.
It was Resolved:
That with the following amendment the minutes of the meeting held on the 24 May 2021 be approved and signed as a true record:
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TO RECEIVE NOTIFICATION OF PETITIONS IN ACCORDANCE WITH THE COUNCIL'S PETITION SCHEME Minutes: None received.
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QUESTIONS BY THE PUBLIC PDF 81 KB To consider questions from and provide answers to members of the public on any matter in relation to which the Committee has powers or duties and of which due notice has been given in accordance with the Committee and Sub-Committee Procedures Rules. Additional documents: Minutes: 67.1 The Chair, Councillor Welham referred to the tabled papers and informed Members that two questions had been received and that the question received from Mr Young would be deferred to item 8.
67.2 The Chair then read out Mr Morelli’s question and informed Members that he intended to respond to it under items 13 and 14, the Babergh and Mid Suffolk workplans, to which they related.
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QUESTIONS BY COUNCILLORS To consider questions from and provide answers to Councillors on any matter in relation to which the Committee has powers or duties and of which due notice has been given in accordance with the Committee and Sub-Committee Procedure Rules. Minutes: None received. |
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Minutes: 69.1 The Assistant Director – Assets and Investments explained the Executive Summary had been provided to assist Members with the report.
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The Assistant Director – Assets and Investments will provide Members with a presentation for CIFCO Trading and Performance Reporting.
Councillor David Busby Babergh - Cabinet Member for Assets and Investments and Chair of Babergh (Suffolk Holdings) Ltd.
Councillor Peter Gould - Mid Suffolk Cabinet Member for Assets and Investments Additional documents: Minutes: 70.1 The Chair, Councillor Welham outlined the purpose of the scrutiny process to Members and invited the Mid Suffolk Cabinet Member for Assets and Investments to introduce the report.
70.2 Councillor Peter Gould detailed the main points and developments for CIFCO included in the report and informed Members that CIFCO’s website has been updated to provide more detail about the company.
70.3 The witnesses then introduced themselves to the Committee:
· Sir Christopher Haworth - Chair of the Board of Directors for CIFCO CAPITAL LTD. · Neville Pritchard – Director, Capital Markets JLL (Jones Lang LaSalle) · Henry Cooke – Director, CIFCO CAPITAL LTD. · Zoe McLaughlin – Ensors Accountants (CIFCO Auditors)
70.4 Emily Atack, Chris Haworth and Neville Pritchard then presented a summary of the Business Plan to Members including the purpose of the business plan, key investments criteria 2020/21, acquisitions and portfolio summary, key performance indicators (KPIs) and the business debt repayment plan, CIFCO Capital and Income 2017 – March 2021 and the income to the Councils.
70.5 The chair of the Board of Directors, Chris Haworth concluded that the portfolio was well balanced, however the board was always looking to improve the value of the assets. Despite a capital (book) loss of £12.5m, Councils had to date received a net income of £5.5m.
70.6 The Chair then read the question received from Mr Young, a member of the public:
Why was it necessary for CIFCO Capital Ltd. to allocate 983269 new shares on 20.01.2021 to each shareholder (BDC & MSDC) and when and where were BDC Councillors informed, and subsequently agreed to such action?".
70.7 The Assistant Director – Assets and Investments responded that shares were allocated to the shareholders on the acquisition of new assets by CIFCO to represent the equity element invested by the shareholders. Due to the process involved these were often grouped together and issued as a single allocation of shares – the allocation referred to above was in respect of 4 property acquisitions by CIFCO and represents 10% of the costs of acquiring the properties, which was the agreed equity investment by the shareholders. This process for issuing shares had been in place since CIFCO was originally set up and ensured that the shareholders equity is appropriately recorded and protected.
70.8 The Chair then read the supplementary question from Mr Young:
Why has a resolution dated 27 Sept 2019, giving authority for the CIFCO CAPITAL Ltd. Directors to allot shares, and signed on behalf of BDC (SUFFOLK HOLDINGS) Ltd., only just been registered some 20 months late?
70.9 The Assistant Director – Assets and Investments responded that CIFCO’s lawyers noted that this resolution was not showing on the Companies House website when undertaking some company housekeeping. A copy of the resolution was sent to Companies House at the time; however, it was not uncommon for documents to go missing or be filed erroneously by Companies House. It was decided therefore to refile the resolution for completeness.
70.10 Councillor Dawson enquired after the value of the ... view the full minutes text for item 70.
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JOS/21/3 SCRUTINY AND REVIEW OF THE JOINT PARKING STRATEGY PROCESS AND TIMELINE PDF 201 KB Members are asked to scrutinise the proposed process and timeline for the development of the Babergh and Mid Suffolk Joint Parking Strategy.
Councillor Elisabeth Malvisi - Babergh Cabinet Member for Environment
Councillor Jessica Fleming – Mid Suffolk Cabinet Member for Environment
Additional documents: Minutes: 71.1 The Assistant Director – Environment and Commercial Partnerships introduce paper JOS/21/3 and informed Members that the timeline had changed, as an external consultant for parking surveys had been engaged. The pre-consultation period would now be concluded in the summer 2022 rather than December 2022.
71.2 Councillor Welham enquired whether the timeline for Cabinet and Council could be altered due to the governance process. The Assistant Director responded that the resources were in place to accommodate this new timeline.
71.3 Councillor Muller pointed to the issues around parking on pavements and future government legislation.
71.4 Councillor Ekpenyong was concerned how this exercise would address the issues for parking on pavements, as this was for Suffolk Highways Authority. He stated that there was an increasing demand for residential parking permits. He also thought that the final drafting and cabinet decision timeline of six months was a long time.
71.5 In response to Councillor Maybury’s questions the Assistant Director for Environment and Commercial Partnerships clarified that the Joint Area Parking Plan was the background of the report and that the Joint Area Parking Management Plan was the strategy. She also explained that on-street parking was outside the Councils’ responsibilities. She hoped that the consultation would provide feedback from residents.
71.6 Councillor Welham queried how the strategy would be planned.
71.7 The Assistant Director – Environment and Commercial Partnerships responded that the strategy would be short, and that data would be available for residents and specific details would be provided for each place. She thought that a review of specifically towns in the districts was due by SCC and would like to see this conducted during this review.
71.8 The Chair then read out questions receive from Councillor Grandon:
“I did not see community groups specifically mentioned in the paper – and I need to ensure that there is specific provision made for such groups when the new parking regime enters in to force. A lot of community groups in Hadleigh use the car parks to attend their community meetings, for example, groups associated with dementia and their careers. Some of these meetings last almost all day and take place currently (pre-covid) at the Hadleigh Leisure Centre and Ansell Centre. Currently, one of these groups already has an arrangement with Babergh that they can display special tickets in their window to extend free parking beyond three hours without incurring a fine and I have lodged a request with another group to do the same. Such groups need to be specifically catered for in the future and needs to be considered in the paper.
Second, it was agreed that charging would only be introduced 1st October at the earliest. What are going to be the ‘trigger points’ for the start date and will there be an economic and other test?
71.9 The Assistant Director – Environment and Commercial Partnerships welcomed the work and assured Members that the Councils were liaising with community groups to ensure that this kind of work was ongoing in ... view the full minutes text for item 71.
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INFORMATION BULLETIN PDF 149 KB The Information Bulletin is a document that is made available to the public with the published agenda papers. It can include update information requested by the Committee as well as information that a service considers should be made known to the Committee.
This Information Bulletin contains updates on the following subjects:
1. Public Realm – Land Adoption Policy 2. Public Realm Insourcing Update Additional documents: Minutes: NOTE: Councillor Jane Gould left the meeting at 1:27pm
The meeting was declared inquorate at 1:28pm and therefore ended. The remaining business will be considered at the next ordinary meeting on the 19 July 2021.
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TASK AND FINISH GROUP FOR SCOPING OF TRANSPORT IN THE DISTRICTS To appoint a task and finish group to explore the delivery of transport options for residents within the Districts and present its findings and recommendations to the Committee.
The Committee may resolve to set parameters for the work of the task and finish group.
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FORTHCOMING DECISIONS LIST To review the Council’s Forthcoming Decisions List and identify any items to be brought before the Overview and Scrutiny Committee.
Please note the most up to date version can be found via the Website:
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JOS/21/4 BABERGH OVERVIEW AND SCRUTINY WORK PLAN PDF 146 KB To agree the Work Plan |
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JOS/21/5 MID SUFFOLK OVERVIEW AND SCRUTINY WORK PLAN PDF 146 KB To agree the Work Plan |
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RESOLUTION TO EXCLUDE THE PUBLIC (WHICH TERM INCLUDES THE PRESS) To consider, whether, pursuant to Part 1 of Schedule 12A of the Local Government Act 1972 the public be excluded from the meeting for the business specified below on the grounds that if the public were present during this item, it is likely that there would be the disclosure to them of exempt information as indicated against theitem. The authors of the report propose to be considered in Part 2 of the Agenda are satisfied that the public interest in maintaining the exemption outweighs the public interest in disclosing the information. PART 2 MATTERS TO BE CONSIDERED WITH THE PRESS AND PUBLIC EXCLUDED
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JOS/21/2 CAPITAL INVESTMENT FUND COMPANY (CIFCO CAPITAL LTD.) BUSINESS PLAN Additional documents:
Minutes: Note: Members’ questions and debate did not necessitate that the meeting went into closed session. |