Agenda item

Report of the Town Clerk.

The Committee considered a report of the Town Clerk seeking agreement to an increase to thresholds for property investment transactions so that greater power was delegated to officers and the relevant Committees.

A Member referred to officer delegations being increased and sought an assurance that delegation procedure controls have been reviewed and updated proportionately.    An assurance was given that each year Committees were given an opportunity to approve an annual strategy for each fund and with this including any disposals that might be proposed for the forthcoming year.   The process for providing a robust, transparent and auditable officer delegation process was something that needed designing and was due to be completed imminently.

The Member also referred to an issue considered by City Bridge Foundation Board relating to 59 Variations when there had been agreement that the premium was to be moved from £2.5m to £20m.  Clarity was provided that the £2.5m figure was a typographical error in translating over what had come forward from City Bridge Foundation.  Members noted that this would be dealt with through the authority that was being sought for the Town Clerk to allow for the figure to be corrected for inclusion in the Court report to bring it in line with what City Bridge Foundation had agreed.

RESOLVED: That Members: -

• Agreed to change the investment property transaction thresholds in Standing Orders as set out at paragraph 5, and in Appendix 1
• Authorised the Town Clerk to make the necessary amendments to the City Surveyor’s Scheme of Delegations