Agenda, decisions and minutes

Members declared interests in the following agenda items:

5. Remuneration for Councillors Appointed as Non-Executive Directors on Graven Hill Companies.

Councillor David Hughes, Declaration, as a Non Executive Director on Graven Hill Village Holding Company Limited and would leave the meeting for the duration of the item.

Councillor Ian Corkin, Declaration, as a Non Executive Director on Graven Hill Village Development Company Limited and would leave the meeting for the duration of the item.

Councillor Nigel Morris, Declaration, as a Non Executive Director on Graven Hill Village Holding Company Limited and on Graven Hill Village Development Company Limited and would leave the meeting for the duration of the item.

At the request of the Chairman, the Leader made the following announcements:

Silverstone Heritage Centre

The Leader advised that the report had been published as a supplement to the main agenda and amended recommendations had been tabled.

The report was public but the appendices were exempt. Therefore if any Member had questions on the appendices, the meeting would move into private session but would vote in public.

Members’ Allowances Annual Review

The Leader reported that Members who hadn’t yet returned the Members’ Allowances Annual Review questionnaire had one on their seats and they were requested to complete and put in the tray by the door when they left.

Post

The Leader reminded Members to collect any post form their pigeon holes. 

Report of Head of Law and Governance

Purpose of report

To determine the levels of the allowances to be paid to elected Members who are Non-Executive Directors of Graven Hill Companies for the remainder of the 2016/2017 financial year following the submission of the report of the Council’s Independent Remuneration Panel (IRP) and to approve a mechanism to ensure the legality of any remuneration that might be paid, in future, to councillor directors on council owned companies.

To consider the size of the Independent Remuneration Panel and the remuneration the Panel members should receive.

Recommendations

The meeting is recommended to:

 1.1        Consider the proposed allowances and whether the Panel’s recommendations should  be adopted or modified in any way

1.2         Authorise the Head of Law and Governance to prepare an amended allowance scheme, for Councillors appointed as Non-Executive Directors in accordance with the decisions of the Council for implementation

1.3         Authorise the Head of Law and Governance to take all necessary action to publicise the Scheme pursuant to The Local Authorities (Members’s Allowances) (England) Regulations 2003 (as amended).

1.4         Thank the Independent Remuneration Panel and agree to increase the size of the Panel to seven members and to introduce a revised fee for IRP members of £300 for each consultation, capped at a maximum of £1200 per annum.

Resolved

(1)          That, having given due consideration, the allowances proposed by the Independent Remuneration Panel (annex to the Minutes as set out in the Minute Book) be adopted without modification.

(2)          That the Head of Law and Governance be authorised to prepare an amended allowance scheme, for Councillors appointed as Non-Executive Directors in accordance with the decisions of the Council for implementation

(3)          That the Head of Law and Governance be authorised to take all necessary action to publicise the Scheme pursuant to The Local Authorities (Members’s Allowances) (England) Regulations 2003 (as amended).

(4)          That the Independent Remuneration Panel be thanked and it be agreed to increase the size of the Panel to seven members and to introduce a revised fee for IRP members of £300 for each consultation, capped at a maximum of £1200 per annum.

The Head of Law and Governance submitted a report to determine the levels of the allowances to be paid to elected Members who are Non-Executive Directors of Graven Hill Companies for the remainder of the 2016/2017 financial year following the submission of the report of the Council’s Independent Remuneration Panel (IRP) and to approve a mechanism to ensure the legality of any remuneration that might be paid, in future, to councillor directors on council owned companies.

The report also sought consideration of the size of the Independent Remuneration Panel and the remuneration the Panel members should receive.

Resolved

(1)          That, having given due consideration, the allowances proposed by the Independent Remuneration Panel (annex to the Minutes as set out in the Minute Book) be adopted without modification.

(2)          That the Head of Law and Governance be authorised to prepare an amended allowance scheme, for Councillors appointed as Non-Executive Directors in accordance with the decisions of the Council for implementation

(3)          That the Head of Law and Governance be authorised to take all necessary action to publicise the Scheme pursuant to The Local Authorities (Members’s Allowances) (England) Regulations 2003 (as amended).

(4)          That the Independent Remuneration Panel be thanked and it be agreed to increase the size of the Panel to seven members and to introduce a revised fee for IRP members of £300 for each consultation, capped at a maximum of £1200 per annum.

(Having declared interests, Councillors Corkin, Hughes and Morris left the meeting for the duration of this item)

** Please note that it was anticipated that the report and appendices would be restricted, however in drafting the report, the Chief Finance Officer has indicated the report is public but the appendices should remain exempt **

Report of Chief Finance Officer

Purpose of report

To consider the provision of a £1m loan facility to Silverstone Heritage Limited as part match-funding for their Lottery grant application to deliver the Silverstone Heritage Experience project.

Recommendations

The meeting is recommended:

1.1          To consider the application for a loan facility of up to £1 million, as part of a wider facility offered by 6 councils/LEPs covering the Silverstone Circuit of up to £9 million, in order to secure National Lottery Heritage funding for the Silverstone Heritage Experience, and,  

1.2          Council is further recommended to:

·         Approve the inclusion of up to £1 million within the capital programme as a provision to make a loan facility available to Silverstone Heritage Limited (SHL).

·         Give approval to borrow in order to fund the loan, should that be necessary for cashflow purposes; and  

·         Give the chief finance officer, in consultation with the head of law and governance and the lead member for financial management, delegated authority to enter into a loan agreement up to £1m with Silverstone heritage limited subject to suitable, state aid compliant terms, satisfaction of the conditions set out below and conditions being agreed by the supporting councils and the necessary commitment to the scheme being given by each of them.

Conditions:

1.    The Council should be recognised formally as a partner and its support acknowledged when marketing and publicising.

2.    If the Heritage Experience outperforms its net revenue expectations SHL should repay the loan more quickly. 

Resolved

(1)          That the Chief Finance Officer, in consultation with the Head of Law and Governance and the Lead Member for Financial Management, be given delegated authority to negotiate a loan agreement up to £1m with Silverstone Heritage Limited subject to suitable, state aid compliant terms, satisfaction of the conditions set out below and conditions being agreed by the supporting Councils and the necessary commitment to the scheme being given by each of them and subject to the future approval of Full Council.

Conditions:

1.    The Council should be recognised formally as a partner and its support acknowledged when marketing and publicising.

2.    If the Heritage Experience outperforms its net revenue expectations, Silverstone Heritage Limited should repay the loan more quickly.

The Chief Finance Officer submitted a report to consider the provision of a £1m loan facility to Silverstone Heritage Limited as part match-funding for their Lottery grant application to deliver the Silverstone Heritage Experience project.

In presenting the report, the Leader of the Council, Councillor Barry Wood, referred to the revised recommendations which had been tabled and sought to grant delegated authority to the Chief Finance Officer, in consultation with the Head of Law and Governance and the Lead Member for Financial Management to negotiate a loan agreement of up to £1m with Silverstone Heritage Limited subject to suitable, state aid compliant terms, satisfaction of conditions and conditions being agreed by the supporting Councils and the necessary commitment to the scheme being given by each of them and subject to the future approval of Full Council.

Resolved

(1)          That the Chief Finance Officer, in consultation with the Head of Law and Governance and the Lead Member for Financial Management, be given delegated authority to negotiate a loan agreement up to £1m with Silverstone Heritage Limited subject to suitable, state aid compliant terms, satisfaction of the conditions set out below and conditions being agreed by the supporting Councils and the necessary commitment to the scheme being given by each of them and subject to the future approval of Full Council.

Conditions:

1.    The Council should be recognised formally as a partner and its support acknowledged when marketing and publicising.

2.    If the Heritage Experience outperforms its net revenue expectations, Silverstone Heritage Limited should repay the loan more quickly.

The following report contains exempt information as defined in the following paragraph of Part 1, Schedule 12A of Local Government Act 1972.

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 item has been marked as exempt, it is for the meeting to decide whether or not to consider 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 decisions in public, they are recommended to pass the following recommendation:

“That under Section 100A of the Local Government Act 1972, the public and press be excluded from the meeting for the following item of business on the grounds that, if the public and press were present, it would be likely that exempt information falling under the provisions of Schedule 12A, Part 1, Paragraph 3 would be disclosed to them, and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.”

There being no questions on the exempt appendices, it was not necessary to exclude the press and public.

** Please note that this report will follow as it is currently being reviewed and finalised **

Exempt Report of Chief Finance Officer

Resolved

(1)          That the exempt appendices be noted.