Agenda and minutes

Property Investment Board - Wednesday, 9th December, 2015 1.45 pm

Venue: Committee Room 2 - 2nd Floor West Wing, Guildhall. View directions

Contact: David Arnold
tel. no.: 020 7332 1174  Email: david.arnold@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

 ...  view the full agenda text for item 1.

Minutes:

Apologies for absence were received from Mark Boleat, Roger Chadwick, Deputy John Chapman, and Dhruv Patel.

 ...  view the full minutes text for item 1.

2.

Members' Declarations under the Code of Conduct in respect of items on the agenda

 

 ...  view the full agenda text for item 2.

Minutes:

There were none.

 ...  view the full minutes text for item 2.

3.

Minutes pdf icon PDF 130 KB

To approve the public minutes and summary of the Property Investment Board meeting held on 11 November 2015.

 

 ...  view the full agenda text for item 3.

Minutes:

RESOLVED – That the public minutes and non-public summary of the meeting held on 11 November 2015 be agreed.

 ...  view the full minutes text for item 3.

4.

Co-Option Request pdf icon PDF 79 KB

Report of the Town Clerk.

 ...  view the full agenda text for item 4.

Minutes:

The Board considered a report of the Town Clerk regarding a proposal to co-opt a new Member to the Property Investment Board in accordance with the protocol for co-option to the Board, following a written request from a current Board Member and consultation with the City Surveyor.

 

RESOLVED – That the appointment of Keith Bottomley as a Co-Opted Member of the Property Investment Board be approved.

 

 ...  view the full minutes text for item 4.

5.

Questions on matters relating to the work of the Board

 ...  view the full agenda text for item 5.

Minutes:

There were none.

 ...  view the full minutes text for item 5.

6.

Any other business that the Chairman considers urgent

 ...  view the full agenda text for item 6.

Minutes:

There was none.

 ...  view the full minutes text for item 6.

7.

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.

 

 

 

 ...  view the full agenda text for item 7.

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.

 

Item No.

Paragraph No.

8 – 15

3

 

 

 

 

 ...  view the full minutes text for item 7.

8.

Non Public Minutes

To approve the non-public minutes of the Property Investment Board meeting held on 11 November 2015.

 ...  view the full agenda text for item 8.

Minutes:

RESOLVED – That the non-public minutes of the meeting held on 11 November 2015 be agreed.

 

The Board noted and considered several matters arising from the non-public minutes.

 ...  view the full minutes text for item 8.

9.

Revenue and Capital Budgets - 2015/16 and 2016/17

Joint report of the Chamberlain and the City Surveyor.

 ...  view the full agenda text for item 9.

Minutes:

The Board considered a joint report of the Chamberlain and the City Surveyor that provided details of the latest approved budget for 2015/16 and sought approval to the revenue budget for 2016/17, for subsequent submission to the Finance Committee.

 ...  view the full minutes text for item 9.

10.

Former Tenants Rent etc Arrears Write Offs

Joint report of the Comptroller and City Solicitor and the City Surveyor.

 ...  view the full agenda text for item 10.

Minutes:

The Board considered a joint report of the Comptroller and City Solicitor and the City Surveyor that sought approval for an amount of outstanding debt to be written off.

 ...  view the full minutes text for item 10.

11.

Arrears of Rent

Report of the City Surveyor.

 ...  view the full agenda text for item 11.

Minutes:

The Board received a report of the City Surveyor that informed Members of the current position with regards to tenant arrears as at September 2015 quarter day minus one.

 

RESOLVED – That the report be noted.

 

 ...  view the full minutes text for item 11.

12.

Strategic Property Estate Review

Report of the City Surveyor.

 ...  view the full agenda text for item 12.

Minutes:

The Board received a report of the City Surveyor that provided an updated of the progress made during the previous year in respect of the Strategic Property Estate (SPE).

 

RESOLVED – That the report be noted.

 ...  view the full minutes text for item 12.

13.

City's Estate Strategic Review

Report of the City Surveyor.

 ...  view the full agenda text for item 13.

Minutes:

The Board received a report of the City Surveyor that provided an annual update of the strategy for the City’s Estate: the investment property portfolio held by the City’s Cash fund.

 

The Board then noted that the Assistant Director of City’s Estate was attending his last Board meeting before leaving the City Corporation. Members thanked him for his contributions to the City’s Estate investment property portfolio during his time in the City Surveyor’s Department.

 

RESOLVED – That the report be noted.

 ...  view the full minutes text for item 13.

14.

Letting Report: Grant of New Lease - Bonhill Street, EC2

Report of the City Surveyor.

 ...  view the full agenda text for item 14.

Minutes:

The Board considered a report of the City Surveyor that sought approval to the grant of a new lease on Bonhill Street, EC2.

 ...  view the full minutes text for item 14.

15.

Letting Report: Surrender and Re-Grant of Lease - Garlick Hill, EC4

Report of the City Surveyor.

 ...  view the full agenda text for item 15.

Minutes:

The Board considered a report of the City Surveyor that sought approval to an early surrender of the existing lease and the grant of a new lease on Garlick Hill, EC4.

 ...  view the full minutes text for item 15.

16.

Non-Public questions on matters relating to the work of the Board

 ...  view the full agenda text for item 16.

Minutes:

There were none.

 ...  view the full minutes text for item 16.

17.

Any other business that the Chairman considers urgent and which the Board agrees should be considered whilst the public are excluded

 ...  view the full agenda text for item 17.

Minutes:

The Board congratulated the City Surveyor’s Department for organising another successful Christmas Lights switch-on event at Leadenhall Market.

 ...  view the full minutes text for item 17.