Decision details

Exempt report

The Committee considered an exempt report from the Shareholder Representative to approve the reforecast updated Strategic Business Plan 2025-26 to deliver the aims and objectives for the Graven Hill Village site in accordance with the strategic aims, objectives, opportunities, and challenges for the Council.

This report was in accordance with the Shareholders’ Agreement approved at the March 2025 Shareholder Committee clause 8.1.8 ‘adopting or amending the Business Plan in respect of each Financial Year’ and clause 8.1.12 ‘making any acquisition or disposal of any asset…….’.

Resolved

(1)            That, the Graven Hill Village Development Company Strategic Business Plan 2025-26 Reforecast update financial strategy and cashflow forecast be approved and it be noted that Appendix A of the Strategic Business Plan is not updated and remains as approved at the June Committee (Shareholder Committee consent is sought in accordance with Clause 3.3 and 8.1.8 of the Shareholder Agreement approved at the March 25 Shareholder Committee Matters requiring Consent of the Council).

(2)            That the strategic risks be noted.

(3)            That it be noted that the key performance indicators for Graven Hill Village Development Company to report to the Shareholder remain as approved at the June Committee in accordance with the Business Plan 2025-26.

(4)            That the updated financial strategy and cashflow forecast for Graven Hill Village Development Company be approved.

(5)            That it be noted that the financial year 2025/26 and financial year 2026/27 profit and loss overview, cashflow budgets and associated commentary for Graven Hill Village Development Company remain as approved at the June Shareholder Committee.

(6)            As set out in the exempt Minutes.

Reasons

In accordance with the Shareholder Agreement approved at the March 25 Committee Clause 8.1 Matters Requiring Consent of the Council Clause 8.1.1 “Adopting or amending the Business Plan in respect of each financial year” the proposed Strategic Business Plan Update FY 2025/26 is recommended for approval to the Shareholder Committee.

Alternative options 

A robust evaluation of alternative options was undertaken at the 7 February Strategy Day. Ongoing reviews of future delivery options are carried out as part of the Companies review of risk based on analysis of macro-economic events, national business outlook and fluctuations within the housing market.