Agenda item

Minutes

To approve the public minutes and non-public summary of the Property Investment Board meetings held on 22nd of July and 19th of August 2020.

 

Minutes:

The Board considered the public minutes and non-public summary of the Property Investment Board meetings held on 22nd of July and 19th of August 2020. The Town Clerk noted that the location would be corrected in the 19th of August meeting Board minutes when added to the public record.

 

RESOLVED– That the Board approved the public minutes and non-public summary of the Property Investment Board meetings held on 22nd of July and 19th of August 2020 as accurate record.

 

Matters arising

The Chair noted his extreme disappointment that the Resource Allocation Sub-Committee on the 7th of September did not consider the report on the proposal

to Assist City of London Investment Tenants for September Quarter Rents and noted that the Board had met in the summer recess specifically in order that this report could be considered at this September meeting. Further to this the Chair noted that it would be confirmed whether this decision had been political in nature.

 

A Member questioned if the invoices for the September rents had been dispatched on the 8th of September as had previously been planned. The City Surveyor undertook to confirm this.

 

It was noted by a Member that the Board had requested a report be produced for consideration at the September meeting on the possibility of turnover rents being utilised for the City of London Corporation. The City Surveyor highlighted the supplementary circulated to the Board which detailed the proposed exit strategy including plans for a full rent to be charged from September with at risk tenants being offered a turnover rent alternative. It was commented that further exploration of this issue in the long term was required.

 

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