Agenda and decisions

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.

To confirm as a correct record the Minutes of the meeting of the Committee held on 12 March 2025.

To receive communications from the Chair

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

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.”

Exempt report of the Shareholder Representative.

As set out in agenda item sixteen.

As set out in agenda item 8.

As set out in agenda item fifteen.

Exempt report of the Shareholder Representative.

Resolved

(1)  That GHVDC’s Remuneration Committee’s proposed bonus payments for financial year 2024/25 as approved by the GHVDC Board at its meeting on 24th April 2025 be accepted.

(2)  That GHVDC’s Renumeration Committee’s proposed bonus scheme and proposals for financial year 2025/26 as approved by the GHVDC Board at its meeting on 24th April 2025 be accepted.

(3)  That the principles and approach set out in the company’s confidential reports attached as Confidential Appendix A, B and C to this report be endorsed.

(4)  That the Remuneration Committee be asked to review the scheme each year before the bonus appraisal process commences and advise the Shareholder Committee of any changes.

(5)  That the Remuneration Committee be asked to ensure that the benchmarking exercise is repeated periodically in accordance with sector best practice and fundamental scope changes, to ensure that the scheme remains consistent with good practice in the market and incentivises staff.

(6)  That any changes to the bonus scheme for future years must be submitted to it for its approval before being implemented and before the financial year to which it relates be specified.

Exempt report of the Shareholder Representative.

Resolved

(1)  That the Graven Hill Village Development Company Strategic Business Plan 2025-26 Reforecast as set out in Appendix A be approved.

(2)  That the strategic risks as set out in the report be noted.

(3)  That the key performance indicators for Graven Hill Village Development Company to report to the Shareholder in accordance with the Business Plan 2025- 26 be approved.

(4)  That the financial strategy and cashflow forecast, as set out in (Appendix B), for Graven Hill Village Development Company be approved.

(5)  That the FY25/26 and FY26/27 profit and loss overview, cashflow budgets and associated commentary, as set out in (Appendix C), for Graven Hill Village Development Company be approved.

Graven Hill Village Development Company (GHVDC) have regular board meetings. The meeting minutes have been presented to the Shareholder Committee for information purposes.

Recommendations

For the Shareholder Committee to receive Graven Hill Village Development Company (GHVDC) board minutes for any meetings held since they were last shared at the Shareholder Committee meeting on 12 March 2025.

Minutes of the 06 February 2025 are attached.

Exempt report of the Shareholder Representative.

As set out in agenda item fourteen.

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

Report of the Shareholder Representative.

Purpose of report

To note, comment and approve recommendations in response to Crown House Banbury Limited Quarter Four 2024/25 Business Report. 

Recommendations

The Shareholder Committee is recommended to:

1.1           Note and comment on the Crown House Banbury Limited Quarter Four 2024/25 Business Report as contained in this report. 

1.2           Note the Annual Accounts for the year ended 31 March 2024 as set out in Appendices A and B to this report

1.3           Note and approve the CDC Property Support Proposal principles set out in Appendix C within the exempt report.

1.4           Agree to receive a fully detailed Property Support Proposal at the next meeting.

Resolved

(1)  That the Crown House Banbury Limited Quarter Four 2024/25 Business Report as contained in this report be noted and commented on.

(2)  That the Annual Accounts for the year ended 31 March 2024 as set out in

Appendices A and B to this report be noted.

(3)  That the CDC Property Support Proposal principles set out in Appendix C within the exempt report be noted and approved.

(4)  That to receive a fully detailed Property Support Proposal at the next meeting be agreed.

**An exempt appendix is included on this agenda as a sperate item**

Report of the Assistant Director of Law and Governance and Monitoring Officer.

Purpose of report

This report presents an update of the Governance Review Action Plan, which commenced following a request at the Shareholder Committee meeting dated 05 July 2023 to ensure oversight of the remaining actions emerging from the Governance Review, carried out by WBD Solicitors. 

1.       Recommendations

The Shareholder Committee resolves:

1.1           To note the updated Graven Hill Governance Review Action Plan attached as Appendix A.

1.2     To note and comment on the draft Governance Framework attached as Exempt Appendix B.

Resolved

(1)  That the updated Graven Hill Governance Review Action Plan attached as

Appendix A be noted.

(2)  That the draft Governance Framework attached as Exempt Appendix B be noted and commented on.

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

Report of the Shareholder

Purpose of report

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

1.       Recommendations

The Shareholder Committee is recommended to:

1.1     To note and comment on the GHVDC Year-end Quarter Four Business Report.

1.2     To approve the GHVDC Quarter Four Business Report

1.1     To note and comment on the exempt GHVDC FY 2025/26 Re-forecast Strategic Business Plan report.

1.3     To approve the recommendation to adopt the Re-forecast Strategic Business Plan. Shareholder Committee consent is sought in accordance with Clause 3.3 and 7.1.8 of the 6^th December 2021 Shareholder Agreement Matters requiring Consent of the Council

1.4     To note and comment on the exempt GHVDC FY 2024/25 Bonus approval and FY 2025/26 Bonus Recommendation Report as recommended by the GHVDC Remuneration Committee.

1.5     To approve the recommendations of the GHVDC Remuneration Committee Report. Shareholder Committee consent is sought in accordance with Clause 7.1.22 and 7.1.23 of the 6^th December 2021 Shareholder Agreement Matters requiring Consent of the Council.

Resolved

(1)  That the GHVDC Year-end Quarter Four Business Report be noted and commented on.

(2)  That the GHVDC Quarter Four Business Report be approved.

(3)  That the exempt GHVDC FY 2025/26 Re-forecast Strategic Business Plan report be noted and commented on.

(4)  That the recommendation to adopt the Re-forecast Strategic Business Plan. Shareholder Committee consent is sought in accordance with Clause 3.3 and 7.1.8 of the 6th December 2021 Shareholder Agreement Matters requiring Consent of the Council be approved.

(5)  That the exempt GHVDC FY 2024/25 Bonus approval and FY 2025/26 Bonus Recommendation Report as recommended by the GHVDC Remuneration Committee be noted and commented on.

(6)  That the recommendations of the GHVDC Remuneration Committee Report. Shareholder Committee consent is sought in accordance with Clause 7.1.22 and 7.1.23 of the 6th December 2021 Shareholder Agreement Matters requiring Consent of the Council be approved.