Issue - meetings

Report of Assistant Director

Purpose of report

To consider a request from Graven Hill Village Holding Company for the creation of additional subsidiary companies that are required to carry out specific roles required as part of the delivery of Graven Hill.

Recommendations

The meeting is recommended:

1.1       That approval be given to the creation of a Graven Hill Site Wide Management Company as a company limited by guarantee and that Graven Hill Village Holding Company be requested to prepare governance documents for final approval by the Shareholder representative before registration and director nominations occur.

1.2       That approval be given to the creation of Individual Apartment Management Companies as required and that Graven Hill Village Holding Company be requested to prepare template governance documents for final approval by the Shareholder representative and then subsequent approval prior to each Individual Apartment Company being established.

1.3       That the above companies be included within the proposed shareholder agreement.

The Assistant Director - Transformational Governance submitted a report to consider a request from Graven Hill Village Holding Company for the creation of additional subsidiary companies that are required to carry out specific roles required as part of the delivery of Graven Hill.

Resolved

(1)           That approval be given to the creation of a Graven Hill Site Wide Management Company as a company limited by guarantee and that Graven Hill Village Holding Company be requested to prepare governance documents for final approval by the Shareholder representative before registration and director nominations occur.

(2)           That approval be given to the creation of Individual Apartment Management Companies as required and that Graven Hill Village Holding Company be requested to prepare template governance documents for final approval by the Shareholder representative and then subsequent approval prior to each Individual Apartment Company being established.

(3)           That the above companies be included within the proposed shareholder agreement.