Issue - meetings

The Cabinet considered the report of the Executive Director in relation to the Strand Shopping Centre, Bootle.

The report referred to additional internal governance that was required to provide an agile and commercial interface, operating within existing delegations in relation to the Investment Board, Chaired by the Chief Executive.  The interface would also act as a working group of senior officers to direct and govern the activities of Framework for Change that would be specifically “commercial” in nature.

Decisions Made:    That the Cabinet:

(1)            agree the formation of a new additional governance structure – the Investment Board;

(2)    agree the membership of the Investment Board, as detailed in the  report;

(3)      note that the Investment Board will act as the commercial interface with    the asset, the Strand Shopping Centre;

(4)     note that the Investment Board will guide and direct the activities of Strategic Investment across Framework for Change that are commercial in nature and that those decisions may be commercially confidential in nature

(5)     note that delegations to the Investment Board will remain as set by      the Constitution;

(6)    note that the Investment Board will work in consultation with the Strategic Capital Investment Group and that formal decisions to be made, above the delegations of the Investment Board, will be made by Cabinet or by Council, as the Constitution determines; and

(7)    note that the Terms of Reference of the Investment Board and its delegations will be reviewed by Cabinet on a frequent basis to ensure that the form of governance is responsive and effective to the needs of the business, acting in the best interests of the Council