Agenda and draft minutes


Shareholder Committee - Tuesday 28 June 2022 6.00 pm

Venue: Bodicote House, Bodicote, Banbury, Oxon OX15 4AA

Contact: Emma Faulkner, Democratic and Elections  Email: democracy@cherwell-dc.gov.uk, 01295 221953

Items
No. Item

44.

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.

 

Minutes:

There were no declarations of interest.

45.

Chairman's Announcements

To receive communications from the Chairman

Minutes:

The Chairman made one announcement:

 

Due to exceptional circumstances regarding illness, the meeting would be held virtually and therefore informally. An additional meeting would be arranged in due course, to consider and approve any relevant recommendations from the meeting.

46.

Appointment of Chairman of the Shareholder Committee for the Municipal Year 2022/2023

Minutes:

As the meeting was being held informally it was not possible to appoint a Chairman for the new Municipal Year, and the item was deferred.

 

With the agreement of the Monitoring Officer the meeting was overseen by the previous Chairman.

47.

Minutes pdf icon PDF 210 KB

To confirm as a correct record the Minutes of the meetings of the Committee held on 18 and 28 February 2022.

Additional documents:

Minutes:

The Minutes of the meeting of the Committee held on 28 February, and the notes of the informal meeting held on 18 February, were both confirmed as correct records, and would be signed by the Chairman in due course.

48.

Urgent Business

The Chairman to advise whether they have agreed to any item of urgent business being admitted to the agenda.

Minutes:

There were no items of urgent business.

49.

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.

 

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 paragraph 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.”

 

 

 

 

 

Minutes:

Resolved

 

(1)       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 paragraph 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.

50.

Graven Hill Village Development Company (GHVDC) - Quarter Four Management Report, 2021/2022 in view and Q1 update

Exempt report of the Shareholder Representative.

Minutes:

The Committee considered an exempt report from the Shareholder Representative that detailed the Quarter Four management report, year in view for 2021/22 and an update on Quarter One of 2022/23.

 

The Shareholder Representative explained his role in the context of the Committee for the benefit of the new Committee members, and introduced the Graven Hill representatives.

 

The Chairman explained that due to the decoupling of the shared services working with Oxfordshire County Council, the Shareholder Representative would be changing from Steve Jorden to Nathan Elvery. The Chairman expressed his appreciation to Steve for his work during his time as Shareholder Representative, on behalf of all members.

 

The Managing Director – Graven Hill Village Development Company gave a detailed presentation regarding the management report and update on quarter one.

 

Regarding priorities during quarter four, the Managing Director – Graven Hill Village Development Company explained that six had reported amber and eight were green. The amber priorities all related to planning applications and S106 discussions, all of which were under discussion with the local planning authority.

 

For the benefit of new Committee members the Managing Director – Graven Hill Village Development Company explained the current situation regarding the original outline planning consent and subsequent reserved matters applications.

 

The development had seen 104 completions across the 2021/22 financial year, with early figures for 2022/23 showing 92 reservations in the pipeline.

 

In relation to employment land, the Managing Director – Graven Hill Village Development Company advised that a planning application had been submitted for one area and it was now progressing through the process. In relation to another area, the existing lease had been terminated and options were being discussed.

 

Regarding the retail centre, two units were at legal discussion stage with interest in the remaining two.

 

The Finance Director – Graven Hill Village Development Company gave a brief overview of the management accounts for the 2021/22 financial year. The financial audit had been completed prior to the meeting and an unqualified opinion had been issued. The Finance Director – Graven Hill Village Development Company advised that final accounts would shortly be presented to the Graven Hill Board for final sign off, after which they would be released to the Shareholder Representative.

 

In response to questions from the Committee the Assistant Director – Finance confirmed that there was a very good working relationship between the council as Shareholder and the Graven Hill companies, with regular updates being given. The Finance Director – Graven Hill Village Development Company explained that she would be meeting with Councillor Nell in his role as Portfolio Holder for Finance to go through the financial details of the companies.

  

Regarding the ‘year in review’ summary, the Managing Director – Graven Hill Village Development Company explained that it had been designed as a standalone document that could be circulated to all members as a progress update on the development.

 

In relation to upcoming work for 2022/23, the Managing Director – Graven Hill Village Development Company explained that discussions were ongoing with  ...  view the full minutes text for item 50.

51.

Crown House Banbury Ltd/Crown House Apartments Banbury Ltd (Crown Companies) - Update

Exempt verbal update from the Shareholder Representative.

Minutes:

The Committee received a verbal update regarding Crown House Banbury Ltd and Crown House Apartments Banbury Ltd.

 

The Chairman welcomed Councillor Simon Holland in his capacity as Non-Executive Director of Crown Companies. Councill Holland gave a short presentation which summarised the history of the Crown House site, the strategic aims of the two companies and a summary of the financial position.

 

In response to questions from the Committee the Assistant Director – Finance explained that a detailed financial update was due to be submitted to the September 2022 meeting of the Committee.

 

Resolved

 

(1)       That the verbal update be noted.