Agenda and minutes

Introductions

The Town Clerk highlighted that the meeting was being recorded as well as live streamed and would be made available on the City Corporation’s YouTube page for a period of time after the meeting had concluded. It was confirmed that participants in the meeting had all individually agreed and given their consent to being recorded and that all personal data would be processed in accordance with the Data Protection Act 2018. The Town Clerk highlighted that, for further information on this, viewers could contact the City Corporation using the details provided on the public webpages.

The Town Clerk also reminded Members, and any members of the public observing the meeting on-line, that this was an informal meeting and that any views reached by the Committee today would therefore have to be considered by the Investment Property Director after the meeting in accordance with the Court of Common Council’s COVID Approval Procedure and that they would make a formal decision having considered all relevant matters. The Town Clerk highlighted that this process reflected the current position in respect of the holding of formal Local Authority meetings and the Court of Common Council’s decision of 15^th April 2021 to continue with virtual meetings and take formal decisions through a delegation to the Town Clerk and other officers nominated by him after the informal meeting has taken place and the will of the Committee was known in open session. Details of all decisions taken under the COVID Approval Procedure would be available online via the City Corporation’s webpages.

Apologies for absence were received from Deputy Phillip Woodhouse, Dhruv Patel, Deputy Robert Merrett and Stuart Corbyn.

There were no declarations.

To approve the public minutes and non-public summary of the informal Property Investment Board meeting held on 26^th of May 2021.

The Board considered the public minutes and non-public summary of the informal meeting of the Property Investment Board meeting held on the 26^th of May 2021.

RESOLVED – That the public minutes and non-public summary of the informal meeting of the Property Investment Board meeting held on the 26th of May 2021 be approved as an accurate record.

Report of the City Surveyor.

The Board received a report of the City Surveyor on the City Surveyor’s Departmental Risk Register update.

In response to a Board member’s query the Director of Open Spaces explained that the risks outlined in the report were identified by officers in 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 on the Business Plan 2020-25 Quarter 4 2020/21.

The Chair questioned when the Officers would have appropriate figures for establishing what constituted good performance for Investment Property Group in the current context. The City Surveyor explained that two of the performance measures were to be brought into the RAG system as a matter of urgency noting the difficulty of the current context of the investment property sector particularly the Government’s decision to prohibit commercial tenants from eviction. However, it was added that the City of London Corporation continued to monitor the performance of its investment property portfolio against per groups.

RESOLVED- That the report be noted.

There were no questions.

There was no other business.

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 informal Property Investment Board meeting held on 26^th of May 2021.

The Board considered the non-public minutes of the informal meeting of the Property Investment Board meeting held on the 26^th of May 2021.

RESOLVED – That the non-public minutes of the informal meeting of the Property Investment Board meeting held on the 26th of May 2021 be approved as an accurate record.

Report of the City Surveyor.

The Board considered a report of the City Surveyor on the Scheme of Delegations and Gateways.

RESOLVED- That the report be approved.

Report of the City Surveyor.

The Board received a report of the City Surveyor on the Vacant Accommodation Update as at 1^st June 2021 for the City Estate, Bridge House Estates and City Fund.

RESOLVED- That the report be noted.

Report of the City Surveyor.

The Board received a report of the City Surveyor on the Quarterly Delegated Authorities Update 1^st April 2021 to 30^th June 2021 for City Fund, City’s Estate and Bridge House Estates.

RESOLVED- That the report be noted.

Joint report of the City Surveyor and Chamberlain.

The Board received a report of the City Surveyor on the City Surveyor Revenue Outturn 2020-21.

RESOLVED- That the report be noted.

Report of the Comptroller and City Solicitor.

To follow.

The Board received a report of the City Surveyor on the Commercial rent legal enforcement options.

RESOLVED- That the report be noted

Report of the City Surveyor.

To follow.

The Board received a report of the City Surveyor on the MSCI Annual Performance report.

RESOLVED- That the report be noted.

Report of the City Surveyor.

The Board received a report of the City Surveyor on the City’s Estate, Bridge House Estates and City Fund, Performance Monitoring of Property Investment Portfolios to 31st March 2021.

RESOLVED- That the report be noted.

Report of the Town Clerk.

The Board received a report Town Clerk on the action taken between meetings.

RESOLVED- That the report be noted.

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

To follow.

The Board considered a joint report of the Comptroller and City Solicitor and Chamberlain on the Arrears Write off for the City’s Estate and City Fund.

RESOLVED- That the report be approved.

Report of the City Surveyor.

The Board considered a report of the City Surveyor on the 140 New Bond Street (Alan Stuart Limited) Amendment of Terms.

RESOLVED- That the report be approved.

Report of the City Surveyor.

Withdrawn.

The report was withdrawn.

Report of the City Surveyor.

The Board considered a report of the City Surveyor on the refurbishment/extension of 6 Board Street Place in the City Fund.

RESOLVED- That the report be approved.  

Report of the City Surveyor.

The Board received a report of the City Surveyor on the Salisbury Square Development RIBA Stage 4a Progress update.

RESOLVED- That the report be noted.

There were no questions.

There was no other business.

To approve the confidential minutes of the informal Property Investment Board meeting held on 26^th of May 2021.

The Board considered the confidential minutes of the informal meeting held on the 26th of May 2021.

RESOVLED- That the confidential minutes of the informal meeting held on the 26^th of May 2021 be approved as an accurate record.