Agenda, decisions and draft minutes

To receive any apologies for absence.

There were no apologies for absence.

To approve the minutes from the previous meetings.

The minutes were agreed as an accurate record of the meeting and signed by the Chair subject to amending the spelling of Cllr Osborne’s name.

To receive and note any declarations of interests in respect of any matters included on the agenda for consideration at this meeting.

(The other registrable interests of Councillors of Somerset Council, arising from membership of City, Town or Parish Councils and other Local Authorities will automatically be recorded in the minutes: City, Town & Parish Twin Hatters - Somerset Councillors 2023 )

The following declarations of interest were automatically recorded:

Cllr Ros Wyke - Westbury-sub-Mendip Parish Council

The Chair to advise the Committee of any items on which members of the public have requested to speak and advise those members of the public present of the details of the Council’s public participation scheme.

For those members of the public who have submitted any questions or statements, please note, a three-minute time limit applies to each speaker and you will be asked to speak before Councillors debate the issue.

We are now live webcasting most of our committee meetings and you are welcome to view and listen to the discussion. The link to each webcast will be available on the meeting webpage, please see details under ‘click here to join online meeting’.

There were no public questions received by the submission deadline.

The Property and Investments Executive Sub-Committee:

a.                 Considered the performance indicators for the asset management of the Commercial Investment Portfolio for Q4 2023/24: 

b.                 Considered the main risks to the programme set out under paragraph 10. 

At the invitation of the Chair, Cllr Ros Wyke introduced the report, explaining how performance indicators have been developed over the last few months. Cllr Wyke proceeded to hand the introduction to Head of Commercial Investment, Robert Orrett, who explained the KPIs and that the total project income figure would reduce as we sell assets and that reductions will be evident in the next report, and that the reasons for those reductions (sales or other reasons) would be shown. The report contained data on voids and rent arrears.

The chair thanked officers for the detailed report and invited comments from Sub-Committee members and other members present, with officers providing responses as appropriate. Points raised included: inclusion of percentage change in quarterly figures; the high level of pressure on staff resources and appreciation for their hard work; the need for more detail in financial information; the impact on MTFP and next year’s budget.

Having been duly proposed and seconded the Property and Investments Executive Sub-Committee proceeded to vote on the recommendations which were agreed unanimously:

a.    Considered the performance indicators for the asset management of the Commercial Investment Portfolio for Q4 2023/24: 

b.    Considered the main risks to the programme set out under paragraph 10 below. 

Having been duly proposed and seconded, the Property and Investments Executive Sub-Committee agreed:

a.        To pass a resolution under Schedule 12A of the Local Government Act 1972 to exclude the press and public from the meeting, on the basis that if they were present during the business to be transacted there would be a likelihood of disclosure of exempt information, within the meaning of Schedule 12A to the Local Government Act 1972: 

Reason: Information relating to the financial or business affairs of any particular person (including the authority holding that information). 

b.        To approve the recommendations set out in the confidential Appendices A, B and C.  

c.         To delegate authority to make all necessary arrangements and agreements to conclude the sales by the 31 March 2025 to the Service Director for Strategic Assets Management in consultation with the Lead Member for Economic Development, Planning and Assets. 

Exclusion of the Press and Public

Having been duly proposed and seconded, the sub-committee proceeded to vote on a proposal to enter confidential session.

Exclusion of the Press and Public

The Executive sub-committee RESOLVED to pass a resolution under Schedule 12A of the Local Government Act 1972 to exclude the press and public from the meeting, on the basis that if they were present during the business to be transacted there would be a likelihood of disclosure of exempt information, within the meaning of Schedule 12A to the Local Government Act 1972.

Disposal of Investment Property

The sub-committee proceeded to discuss this confidential item with officers providing responses as appropriate.

Having been duly proposed and seconded the Property and Investments Executive Sub-Committee proceeded to vote on the recommendations which were agreed unanimously:

a.    To approve the recommendations set out in the confidential Appendices A, B and C. 

b.    To delegate authority to make all necessary arrangements and agreements to conclude the sales by the 31 March 2025 to the Service Director for Strategic Assets Management in consultation with the Lead Member for Economic Development, Planning and Assets.

Having been duly proposed and seconded, the Property and Investments Executive Sub-Committee agreed: 

1. that this report be treated in confidence, as the case for the public interest in maintaining the exemption outweighs the public interest in disclosing that information.   

2. to exclude the press and public from the meeting where there is any discussion at the meeting?regarding this report and the exempt or confidential information contained.? 
3. the confidential recommendation as per the report.

The sub-committee proceeded to discuss this confidential item with officers providing responses as appropriate.

Having been duly proposed and seconded, the Property and Investments Executive Sub-Committee agreed:

a.    that this report be treated in confidence, as the case for the public interest in maintaining the exemption outweighs the public interest in disclosing that information.

b.    to exclude the press and public from the meeting where there is any discussion at the meeting?regarding this report and the exempt or confidential information contained.?

c.     the confidential recommendation set out in the report.