The
Capital Buildings Board is responsible for the management and
oversight of major capital building projects (i.e. those projects
with an estimated budget of £100 million or more), together
with other such projects which have been referred to it.
Composition
·
The Chairman and Deputy or a Vice Chairman of the
Policy & Resources Committee
·
The Chairman and Deputy Chairman of the Finance
Committee or their nominee
·
Three Members appointed by the Policy &
Resources Committee
·
Five Members elected by the Court of Common Council,
at least one of whom shall have fewer than five years’
service on the Court at the time of their appointment
·
The Chairmen and Deputy Chairmen of those service
committees which will become responsible for completed capital
building projects, or their nominees (ex-officio)*
·
The Chairman of the General Purposes Committee of
Aldermen, or their nominee.
* Such
Chairmen and Deputy Chairmen (or their nominees) to become
ex-officio Members of the Committee upon the Court of Common
Council giving its approval in principle for the project to
proceed, with their membership to cease upon the new building being
handed over to their Committee.
·
Together with up to two non-City of London
Corporation Members and a further two Court of Common Council
Members with appropriate experience, skills or knowledge to be
appointed by the Board.
The
Chairman to be Chairman of Policy & Resources or their
nominee.
Terms of Reference
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In
respect of major projects† which have been
approved in principle by the Court of Common Council and are being
directly delivered by the City of London Corporation, to be
responsible for:
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(a)
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overall direction and co-ordination;
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(b)
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financial control and variances within the overall approved
budget for the project;
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(c)
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review
of progress;
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(d)
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decisions on significant option development and key policy
choices; and
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(e)
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decisions in relation to the acquisition and disposal of
properties related to the project, including disposal or
alternative use of current operational properties to be vacated on
completion of the project. Such properties, upon the approval of
the capital building project, shall sit outside of the normal
Standing Orders (53-60) governing acquisitions and
disposals.‡
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In respect of Major Capital
Building projects and/or programmes which have been approved in
principle by the Court of Common Council and where the City of
London Corporation is a major funder:-
(f) Monitoring of progress
against agreed milestones; and
(g) The release of the City of
London Corporation’s funding.
† Defined as all projects with an estimated budget
of £100 million or more, or which have been otherwise
referred to the Committee.
‡ Such transactions shall therefore not require the
additional approvals of the Property Investment Board, Operational
Property and Projects Sub-Committee, Finance Committee, and Court
of Common Council. However, the Policy & Resources Committee
shall reserve the right to retain ultimate decision-making powers
in respect of properties where the disposal is considered to have
significant strategic or policy implications.
Notes:
