Venue: Committee Rooms - West Wing, Guildhall
Contact: Claire Sherer
tel. no.: 020 7332 1971
Email: claire.sherer@cityoflondon.gov.uk
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Apologies Minutes: Apologies for absence were received from Alderman Sir Robert Finch, George Gillon, Brian Harris and Clare James. |
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Declarations by Members of any personal or prejudicial interests Minutes: There were no declarations. |
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Order of the Court of Common Council (19 April 2012) PDF 31 KB To appoint the Committee and approve its Terms of Reference. Minutes: The Committee considered the Order of the Court of Common Council of 19 April 2012 appointing the Committee and approving its Terms of Reference.
RECEIVED |
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Minutes of the previous meeting PDF 139 KB To agree the public minutes and non-public summary of the meeting held on 13 January 2012. Minutes:
RESOLVED: That the public minutes and non-public summary of the meeting held on 13 January 2012 be approved as an accurate record. |
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Minutes of the Financial Investment Board PDF 135 KB To note the draft public minutes and non-public summary of the meeting held on 2 February 2012. Minutes:
RESOLVED: That the public minutes and non-public summary of the Financial Investment Board meeting held on 2 February 2012 be noted. |
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Minutes of the Property Investment Board PDF 135 KB To note the public minutes and non-public summary of the meetings held on 18 January 2012, 15 February 2012 and 14 March 2012. Additional documents:
Minutes:
RESOLVED: That the public minutes and non-public summary of the Property Investment Board meetings held on 18 January 2012, 15 February 2012 and 14 March 2012 be noted. |
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Appointment of Boards and Frequency of Grand Committee and Board Meetings PDF 98 KB Report of the Town Clerk. Additional documents:
Minutes: The Committee considered a report of the Town Clerk to appoint the Committee’s two Boards (Property Investment Board and Financial Investment Board), approve their composition and terms of reference and agree the frequency of meetings.
The Town Clerk tabled amended terms of reference for the Financial Investment Board and proceeded to read the names of those Members who had expressed a willingness to serve on the Committee’s two Boards.
RESOLVED: That –
i. the composition and terms of reference for the two Boards be agreed, subject to the following conditions: a. that the composition should make clear that the Deputy Chairman (in addition to the Chairman) for both Boards should be determined by the relevant Board; and b. the Financial Investment Board terms of reference should be reviewed and amended in due course should the Board be required to take a formal role in relation to the newly established Social Investment Fund.
ii. Membership of the Boards would be:
Financial Investment Board Deputy Ken Ayers (Chief Commoner) Ray Catt Roger Chadwick Simon Duckworth Deputy Anthony Eskenzi Brian Harris Tom Hoffman Robert Howard Clare James Anthony Llewelyn-Davies Deputy Edward Lord Jeremy Mayhew Henry Pollard Ian Seaton Stuart Fraser (Ex-Officio Member)
Property Investment Board Deputy Ken Ayers (Chief Commoner) Deputy Michael Cassidy Roger Chadwick Deputy Anthony Eskenzi Martin Farr Alderman Sir Robert Finch Archie Galloway George Gillon Brian Harris Michael Hudson Deputy Keith Knowles Deputy Edward Lord Mark Boleat (Ex-Officio Member)
iii. the Investment Committee would continue to meet three times a year, with meetings to be held in January, April/May and July; iv. the Financial Investment Board would continue to meet approximately six times a year; v. the Property Investment Board would continue to meet approximately eight to ten times a year; vi. it be noted that the Chairman and Deputy |
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Election of Chairman To elect a Chairman pursuant to Standing Order No. 29. Minutes: The Committee proceeded to elect a Chairman in accordance with Standing Order No. 29. A list of Members eligible to stand was read and Ray Catt, being the only Member who expressed a willingness to serve, was declared to have been elected as the Chairman of the Investment Committee for the ensuing year. |
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Election of Deputy Chairman To elect a Deputy Chairman pursuant to Standing Order No. 30. Minutes: The Committee proceeded to elect a Deputy Chairman in accordance with Standing Order No. 30. A list of Members eligible to stand was read and Deputy Michael Cassidy, being the only Member who expressed a willingness to serve, was declared to have been elected as the Deputy Chairman of the Investment Committee for the ensuing year. |
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The Global Economy and the UK and central London Property Market PDF 968 KB Presentation of Peter Damesick, Chief Economist - Global Research & Consulting at CBRE. Minutes: The City Surveyor introduced Peter Damesick, EMEA Chief Economist at CBRE who then provided Members with an overview of the Central London Real Estate Market Outlook.
The Chairman thanked Mr Peter Damesick and Members asked a number of questions in relation to the presentation.
RECEIVED |
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Decisions taken under Delegated Authority and Urgency Procedures The Town Clerk to be heard. Minutes: There were no decisions taken under Delegated Authority or Urgency Procedures since the previous meeting. |
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Questions on matters relating to the work of the Committee Minutes: There were no questions. |
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Any Other Business that the Chairman considers urgent Minutes: The Chairman expressed his thanks to Robert Hughes-Penney, the outgoing Chairman of the Investment Committee and Financial Investment Board.
Mr Hughes-Penney stated that it had been a pleasure and a privilege to serve on the Committee and he wished Members every success in the future. |
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Exclusion of the Public
MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.
Minutes: RESOLVED - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act:
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Non-public minutes of the previous meeting Minutes: |
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Non-public minutes of the Financial Investment Board Minutes: |
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Non-public minutes of the Property Investment Board Minutes: |
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Securities Investments - Revised Strategy Minutes: |
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Non-public decisions taken under Delegated Authority and Urgency Procedures Minutes: |
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Non-public questions on matters relating to the work of the Committee Minutes: |
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Any Other Business that the Chairman considers urgent and which the Committee agree should be considered whilst the public are excluded Minutes: |