Venue: Committee Rooms, 2nd Floor, West Wing, Guildhall
Contact: Richard Holt Email: Richard.Holt@cityoflondon.gov.uk
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Apologies for Absence Minutes: Apologies for absence were received from Sheriff Christopher Hayward, |
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Members' Declarations under the Code of Conduct in respect of items on the agenda Minutes: Deputy Edward Lord made a declaration as a Trustee’s for the Trust for London which was listed as an incumbent tenant at 4 Chiswell Street.
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To approve the public minutes and non-public summary of the Property Investment Board meeting held on 6 November 2019.
Minutes: RESOLVED – That the public minutes and non-public summary of the meeting held on 6 November 2019 be approved as an accurate record. |
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Report of the Town Clerk. Minutes: The Board received a report of the Town Clerk on the public actions from the previous meeting.
The Board discussed the listed action on air quality. The City Surveyor explained that Skanska had quoted the £40,000 for an air quality surveyor. Members noted that any development on this would be subject to prioritisation and the difficulty in updating older buildings in line with air quality standards. A Member of the Board suggested that sustainability be incorporated into the JLL Strategy. The Chair requested that a verbal update be prepared for the spring of 2020 on a corporate strategy on sustainability, noting that this would also be provided to the Corporate Asset Sub Committee. The City Surveyor explained that a draft sustainability strategy was being produced incorporating a list of ideas for improving staff health and wellbeing.
RESOLVED- That the report be noted.
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Business Improvement Districts Strategy PDF 1 MB Joint report of the City Surveyor and Director of the Built Environment. Minutes: The Board considered a report of the City Surveyor on City of London Corporation’s Business Improvement Districts (BID) Strategy. The City Surveyor introduced the report and summarised the central components of the BID Strategy.
Replying to a request from a Member of the Board the City Surveyor agreed to remove the reference to income generation in BID Strategy.
The Board questioned the City’s funding arrangements for BIDs. It was confirmed that the funds required to support BIDs had been allocated in the current budget but would need to be agreed for individual BIDs on a case by case basis. The City Surveyor noted that the BID Strategy supports many of the key goals of the Corporate Plan. A Member noted that the approval from the Board should be subject to funding being available.
In response to query from a Member the City Surveyor explained that the engagement with the ballot would be the primary measure of the success of the BID Strategy.
RESOLVED- The Board agreed to consider requests to become joint funding partner for the life of a voluntary partnership only where significant assets managed by Property Investment Board are in the partnership area, and where its involvement will aid the establishment of a Business Improvement Districts for the area.
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City Surveyor's Business Plan 2019-24 Quarter 2 2019/20 PDF 63 KB Report of the City Surveyor. Additional documents:
Minutes: The Board received a report of the City Surveyor on the City Surveyor’s Departmental Business Plan. The report provided details of progress in quarter 2 (July – September) 2019/20 against the 2019-24 Business Plan, an update on the commercial property market, and a financial statement.
A Member commented that the rent from 15/17 Eldon Street accrued to Central Risk however the shortfall due to the early surrender of this property come from Local Risk. The Chamberlain agreed it would all be reclassified to Central Risk.
RESOLVED- That the report be noted.
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City Surveyor's Departmental Risk Register update PDF 95 KB Report of the City Surveyor. Additional documents:
Minutes: The Board received a report of the City Surveyor on the City Surveyor’s Department Risk Register. The report provided the Board with a quarterly update on the management of risks within the City Surveyor’s Department. The Chair noted that the three red risks were outside of the Property Investment Board’s Terms of Reference.
RESOLVED- That the report be noted.
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Questions on matters relating to the work of the Board Minutes: There were no questions. |
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Any other business that the Chair considers urgent Minutes: There was no other business. |
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Exclusion of the Public MOTION – That under Section 100A(4) 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 1 of Schedule 12A of the Local Government Act.
Minutes: RESOLVED – That under Section 100A(4) 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 1 of Schedule 12A of the Local Government Act.
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Non Public Minutes To approve the non-public minutes of the Property Investment Board meeting held on 6 November 2019. Minutes: RESOLVED – That the non-public minutes of the Property Investment Board meeting held on 6 November 2019 be approved as an accurate record. |
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NON-PUBLIC ACTIONS Report of the Town Clerk. Minutes: The Board received a report of the Town Clerk on the non-public actions of the previous meeting.
Resolved- That the report be noted. |
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City Fund, City's Estate & Bridge House Estates - Revenue Works Programme - Progress Report Report of the City Surveyor. Minutes: The Board received a report of the City Surveyor on the Revenue Works Programme for the City Fund, City’s Estate and Bridge House Estates.
RESOLVED- That the report be noted.
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Property Investment Board Estimates and high-level summary Business Plan 2020/21 Joint report of the City Surveyor and the Chamberlain. Minutes: The Board considered a joint report of the Chamberlain and City Surveyor budget estimates and final high-level summary Business Plan for the Property Investment Board for 2020/21.
RESOLVED- That the report be agreed. |
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City Fund, City's Estate and Bridge House Estates: Arrears of Rent as at September 2019 Quarter Day Minus 1 Report of the City Surveyor. Minutes: The Board considered a report of the City Surveyor on the Arrears of Rent as at September 2019 for the City Fund, City’s Estate and Bridge House Estates.
RESOLVED- That the report be noted. |
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Retails Units - Investment Property Group Report of the City Surveyor.
To follow. Minutes: The Board received a report of the City Surveyor on City’s retail premises as managed by the Investment Property Group.
RESOLVED- That the report be noted.
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Power Purchase Agreement (PPA) for Offsite Renewable Electricity - Procurement Stage 1A Mid Tender progress report Joint report of the Chamberlain and City Surveyor. Minutes: The Board received a joint report of the Chamberlain and City Surveyor on the Power Purchase Agreement.
RESOLVED- That the report be noted.
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1-5 London Wall (Bridge House Estates) Glen house (City's Estate) 15-17 Eldon Street (City Fund)- Gateway 6 Consolidated Outcome report Report of the City Surveyor. Minutes: The Board considered a Gateway 6 Consolidated Outcome report of the City Surveyor on 1-5 London Wall (Bridge House Estates) Glen house (City’s Estate) and 15-17 Eldon Street (City Fund).
RESOLVED- That the report be agreed
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City's Estate : 62 South Molton Street - Lease Surrender for Premium Report of the City Surveyor. Minutes: The Board considered a report of the City Surveyor on the City’s Estate: 62 South Molton Street Surrender of Existing Lease of retail shop from V & A Fashion Inc. Ltd.
RESOLVED- That the report be agreed.
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City's Estate Annual Update Report Report of the City Surveyor.
To follow. Minutes: The Board considered a report of the City Surveyor on the City Estate Annual Update.
RESOLVED- That the report be agreed. |
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City’s Estate: Development Agreement surrender of existing leases and grant of new 250 year Ground Lease Report of the City Surveyor.
To follow. Minutes: The Board considered a report of the City Surveyor on a Development Agreement surrender of existing leases and grant of new 250-year Ground Lease in the City’s Estate.
RESOLVED- That the report be agreed.
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City Fund - Fleet Street Estate Vacant Possession - Lease Variations Report of the City Surveyor. Minutes: The Board received a report of the City Surveyor on the Fleet Street Estate Vacant Possession Lease Variations within City Fund.
RESOLVED- That the report be noted.
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City Fund- Wood Street and Snow Hill Police Stations Report of the City Surveyor. Minutes: The Board received a report of the City Surveyor on the Wood Street and Snow Hill Police Stations Delegated Authority for the approval of recommended Disposal Offers within City Fund.
RESOLVED- That the report be noted. |
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Summary of a Charity Trustee's role - Bridge House Estates Standing Item. Minutes: The Board noted the Standing Item on the Summary of a Charity Trustee’s role for the Bridge House Estates.
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Bridge House Estates Annual Update Report Report of the City Surveyor. Minutes: The Board considered a report of the City Surveyor on the Bridge House Estates Annual Update.
RESOLVED- That the report be agreed.
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Report on Action Taken Report of the Town Clerk. Minutes: The Board received a report of the Town Clerk on action by the Town Clerk, in consultation with the Chair and Deputy Chairman, with Standing Order Nos. 41(b).
RESOLVED- That the report be noted. |
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Non-Public questions on matters relating to the work of the Board Minutes: There were no questions. |
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Any other business that the Chair considers urgent and which the Board agrees should be considered whilst the public are excluded Minutes: There was two items of urgent business in the non-public session. |