Agenda item

The Committee considered the report of the Deputy Town Clerk.

Referencing section 28 of the report, Members commented that it would be beneficial for elected Members to be on any CIC Board for reputational risk reasons among others (as discussed at previous meetings), noting also that quality control would be dealt with via the planning process and the City Arts Initiative (CAI). The Committee noted that the matter of CoL Member representation would be clearly and explicitly presented to the Policy & Resources Committee.

Referencing section 26 of the report (CAI panel) the meeting noted that the governance structure of the CAI will remain unchanged, and any new process will ensure that the Committee’s requirements are met. 

A Member sought further clarification on the establishment, finances, process, risk management and timescale of a CIC. The meeting noted the following:

• There is no recent example of a CIC being established (noting the example set out in sections 33 and 34);
• The timescale will be a factor in the planning stage;
• Partners are supportive of the model set out in the report, with fundraising frameworks set out in section 31 of the report;
• The move from the in-principle approval to the operational detail is to take place via the Delegated Authority process (as per point 2 below);
• Actual approval to establish a CIC (or other entity) will need to take place at the level of the Corporation’s Policy & Resources Committee  

RESOLVED, That the Committee approve Option 3 as set out in the report: transfer SITC ownership, management and operational delivery to an external entity in the form of a Community Interest Company (or other legal structure). In doing so, Members agreed to:

1. Approve the in-principle transfer of the SITC project to a new Community Interest Company (CIC) limited by guarantee or other legal structure which is considered most suitable following legal advice and consultation with stakeholders for future management and delivery noting that all SiTC works will be presented to the Committee for approval;

2. Delegate authority to the Town Clerk, in consultation with the Chair and Deputy Chairs of Policy & Resources and Culture Heritage and Libraries Committees, to advance from in-principle to completing the operational details of any CIC establishment (or other legal structure) and any transfer; and

3. Approve that the governance of any CIC (or other legal structure) be taken through the appropriate City Corporation Committee process, specifically (i) composition and the establishment of any Board of Directors; and, (ii) how the City Corporation would be represented on the Board of Directors of any outside body to maintain oversight of the project (in line with the ‘Protocol for Members, Officers and Individuals appointed or nominated by the City Corporation to Outside Bodies’) with clear elected CoLC Member representation.