Issue - meetings

**An exempt version of this report and the exempt appendices are included on this agenda at a separate item**

Report of the Shareholder

Purpose of report 

To note, comment and approve recommendations in response to the GHVDC Quarter Two Business Report. 

Recommendations 
 
The Shareholder Committee is recommended to: 
 

1.1     To note and comment on the GHVDC Quarter Two Business Report. 

1.2     To approve the GHVDC Quarter Two Business Report 

1.3     To approve the Minutes, actions and agreed outputs from the 10^th October Strategy Session. Appendix C  

1.4     To note and comment on the GHVDC Board skills audit. Appendix E. 

1.5     To note and approve that GHVDC can pursue all necessary contractual remedies to recover costs from Iconic Development Group including recourse to litigation if required. Shareholder Committee consent is sought in accordance with Clause 7.1.23 of the 6^th December 2021 Shareholder Agreement Matters requiring Consent of the Council. 

As set out in agenda item twelve.

The Committee considered a report from the Shareholder Representative which contained confidential appendices outlining the Graven Hill Village Development Company’s (GHVDC) Quarter Two (2024/25) Business Report Update.

The Managing Director of Graven Hill Village Development Company confirmed that a follow-up strategy day session will take place in February 2025. This session will specifically address product options and clarify future funding strategies.

The Committee inquired about the effectiveness of the management at Iconic. The Managing Director of the company responded by stating that the board has established robust procedures for evaluating both the quality and financial performance of contractors. Furthermore, the company is actively addressing any outstanding defects.

Resolved

As set out under minute item 37.