Agenda and minutes

Apologies for absence were received from Deputy Alistair Moss (Chairman), Mark Boleat, George Gillon, Deputy Brain Harris.

Roger Chadwick and Ann Holmes declared non-pecuniary interests in matters relating to the disposal of Sylvacote and Avenue Cottages in Ashtead during item 17, as they were Deputy Chairman and a Member of the Board of Governors of the City of London Freemen’s School respectively.

To approve the public minutes and summary of the Property Investment Board meeting held on 14 October 2015.

RESOLVED – That the public minutes and summary of the meeting held on 14 October 2015 be agreed.

Matters Arising

The Deputy Chairman welcomed Keith Bottomley as an observer at the meeting and noted that his application to become a co-opted Member of the Board was in progress.

There were none.

There was none.

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.

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.

To approve the non-public minutes of the Property Investment Board meeting held on 14 October 2015.

RESOLVED – That the non-public minutes of the meeting held on 14 October 2015 be agreed.

The Board discussed several matters arising from the non-public minutes of the previous meeting.

Joint report of the City Surveyor and the Chamberlain.

The Board considered a joint report of the City Surveyor and the Chamberlain that provided details of the overall progress in the City Surveyor’s Department in implementing the agreed Service Based Review (SBR) targets.

RESOLVED – That the progress in the City Surveyor’s Department in implementing SBR savings targets be noted.

Joint report of the City Surveyor and the Chamberlain.

The Board received a joint report of the City Surveyor and the Chamberlain that provided Members with a background to the appraisal metrics used in City of London Corporation property reports to Property Investment Board and Finance Committee.

RESOLVED – That the report be noted.

Report of the City Surveyor.

The Board received a report of the City Surveyor that provided details of the progress made in Quarter 2 2015/16 against the 2015-18 Departmental Business Plan and the key risk areas associated with the delivery of that plan.

RESOLVED – That the report be noted.

Report of the City Surveyor.

The Board received a report of the City Surveyor that provided details of the risk management procedures in place within the City Surveyor’s Department.

RESOLVED – That the report be noted.

Report of the City Surveyor.

The Board received a report of the City Surveyor that provided the latest quarterly update of rental forecasts for the City’s Estate, City Fund, and the Strategic Estate as at 30 September 2015.

RESOLVED – That the report be noted.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to a proposed new letting.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to a proposed new letting.

Report of the City Surveyor.

The Board considered a report of the City Surveyor that sought approval to a rent review.

In response to a Member’s question, the Chamberlain advised that a report regarding the accounting treatment of property sales was expected to be submitted to the various relevant Committees in early 2016.

The Board noted and considered four items of urgent business.