Issue - meetings

To receive a report presenting a revised Commercial Investment Strategy for approval and subsequently adopted for implementation.

Executive Councillor: B Mickelburgh

The Cabinet approved the Revised Commercial Investment Strategy.

A report by the Corporate Director – Finance and Resources was submitted (a copy of which is appended in the Minute Book) which presented a revised Commercial Investment Strategy for approval and subsequent adoption for implementation.

The Executive Councillor for Finance and Resources – Councillor Mickelburgh, set out the report, noting the comments from the Overview & Scrutiny (Performance & Growth) Panel which was generally supportive. Questions had been raised regarding risk and that the Strategy ought to follow the same guidelines across the rest of the organisation, and the significant reliance on the S151 officer which he felt was not any more onerous in this iteration than was present previously. Such concerns would be mitigated by putting together a good quality team together who could take the majority of actions and leave the S151 officer to hold their key part within the process. Furthermore, this iteration had given a broader scope that put the Council in a strong position.

The Cabinet noted that the strategy was a sensible, prudent approach and was a helpful reference point which enshrined commercial income as a critical part. It also achieved secondary benefits beyond pure revenue generation, maximising the value the District got from the Council’s investment.

Whereupon, it was

RESOLVED

that the Cabinet approved the Revised Commercial Investment Strategy.