Venue: Remote meeting, joining instructions have been sent to Committee Members
Contact: Emma Faulkner, Democratic and Elections Email: firstname.lastname@example.org, 01295 221953
Declarations of Interest
Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.
There were no declarations of interest.
To confirm as a correct record the Minutes of the meeting of the Committee held on 2 May 2020.
The Minutes of the meeting of the Committee held on 1 May 2020 were confirmed as a correct record, to be signed by the Chairman in due course.
To receive communications from the Chairman
There were no Chairman’s announcements.
The Chairman to advise whether they have agreed to any item of urgent business being admitted to the agenda.
There were no items of urgent business, however the Shareholder Representative advised the Committee that it would be necessary to arrange another meeting to take place in early June. Details would be circulated to the Committee in due course.
Exclusion of the Public and Press
The following items of business contain exempt information as defined in the following paragraphs of Part 1, Schedule 12A of Local Government Act 1972.
1 Information relating to any individual
2 Information which is likely to reveal the identity of an individual
3 Information relating to the financial or business affairs of any particular person (including the authority holding that information)
Members are reminded that whilst the following items have been marked as exempt, it is for the meeting to decide whether or not to consider each of them in private or in public. In making the decision, members should balance the interests of individuals or the Council itself in having access to the information. In considering their discretion members should also be mindful of the advice of Council Officers.
Should Members decide not to make a decision in public, they are recommended to pass the following recommendation:
“That, in accordance with Section 100A(4) of Local Government Act 1972, the press and public be excluded from the meeting for the following items of business, on the grounds that they could involve the likely disclosure of exempt information as defined in paragraphs 1, 2 and 3 of Schedule 12A of that Act and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.”
That, in accordance with Section 100A (4) of Local Government Act 1972, the press and public be excluded from the meeting for the following items of business, on the grounds that they could involve the likely disclosure of exempt information as defined in paragraphs 1, 2 and 3 of Schedule 12A of that Act and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.
Graven Hill - Quarter Four Management Accounts, Year End Review, Building Blocks Review, Statutory Accounts and COVID-19 Update
Exempt report of Shareholder Representative
The Committee considered an exempt report from the Shareholder Representative, that gave an update on Quarter Four management accounts, year end review, the building blocks review, Statutory accounts and an update on the impact of Covid-19.
With regard to the year end review, the Managing Director – Graven Hill Development Company advised the Committee that it was deliberately not commercially sensitive so it could be circulated to a wider audience as a progress update.
In connection with the statement of accounts, the Committee were advised that the Graven Hill auditors would liaise with the Cherwell District Council (CDC) auditors to ensure all relevant information could be gathered for inclusion in the CDC accounts. The timetable for completion of the accounts had been agreed, and the CDC Assistant Director – Finance thanked the Graven Hill Development Company officers for providing financial information in a timely manner to date.
With regard to the current situation Covid-19 restrictions and impact on Graven Hill, the Managing Director – Graven Hill Development Company explained that work had stopped on site at the end of March, but had started again on 11 May on a small scale, with appropriate social distancing measures in place including a reduced capacity canteen and staggered break times. Virtual tours of plots had been taking place, with a return to physical tours being planned for the week commencing 25 May.
The knock-on effect of construction closedown to the supply chain would mean changes to the timescales for various aspects of the site, but the Committee were advised that the Graven Hill board were holding regular virtual meetings, to discuss progress.
With regard to the building block proposal to offer part exchange when buying a new property at Graven Hill, utilising the funds already earmarked for the mortgage scheme initiative to enable a marketing campaign to be developed to coincide with the post-Covid-19 relaunch in June 2020, the Committee confirmed their agreement to the plan. The CDC Assistant Director – Finance advised that it would need to be approved by full Council, and it was agreed that a special meeting should be arranged for June.
The Committee asked further detailed questions relating to the building blocks review, which were duly answered by officers.
(1) That the Graven Hill quarter four management information and operational overview be noted.
(2) That the 2019/20 full year review be noted, and approved for circulation to all Cherwell District Council Members.
(3) That the building blocks review be noted, and the proposal to introduce Part Exchange be recommended to full Council for approval.
(4) That the implications of COVID 19 on the company be noted, and that the initial recovery plan be approved.
(5) That the statutory accounts update be noted.