Meeting Details

Meeting Summary
Revolving Investment Fund Committee
11 Nov 2015 - 18:00
Occurred
  • Documents
  • Attendance
  • Visitors
  • Declarations of Interests

Documents

Agenda

Part A
1 Welcome and Announcements

a)     The Chairman to welcome members of the public and Councillors and to remind all speakers of the requirement for microphones to be used at all times.

(b)     At the Chairman's discretion, to announce information on:

  • action in the event of an emergency;
  • mobile phones switched to silent;
  • the audio-recording of meetings;
  • location of toilets;
  • introduction of members of the meeting.
2 Substitutions

Members may arrange for a substitute councillor to attend a meeting on their behalf, subject to prior notice being given. The attendance of substitute councillors must be recorded.

3 Urgent Items

To announce any items not on the agenda which the Chairman has agreed to consider because they are urgent, to give reasons for the urgency and to indicate where in the order of business the item will be considered.

4 Declarations of Interest

The Chairman to invite Councillors to declare individually any interests they may have in the items on the agenda. Councillors should consult Meetings General Procedure Rule 7 for full guidance on the registration and declaration of interests. However Councillors may wish to note the following:- 

  • Where a Councillor has a disclosable pecuniary interest, other pecuniary interest or a non-pecuniary interest in any business of the authority and he/she is present at a meeting of the authority at which the business is considered, the Councillor must disclose to that meeting the existence and nature of that interest, whether or not such interest is registered on his/her register of Interests or if he/she has made a pending notification.  
     
  • If a Councillor has a disclosable pecuniary interest in a matter being considered at a meeting, he/she must not participate in any discussion or vote on the matter at the meeting. The Councillor must withdraw from the room where the meeting is being held unless he/she has received a dispensation from the Monitoring Officer.
     
  • Where a Councillor has another pecuniary interest in a matter being considered at a meeting and where the interest is one which a member of the public with knowledge of the relevant facts would reasonably regard as so significant that it is likely to prejudice the Councillor’s judgement of the public interest, the Councillor must disclose the existence and nature of the interest and withdraw from the room where the meeting is being held unless he/she has received a dispensation from the Monitoring Officer.
     
  • Failure to comply with the arrangements regarding disclosable pecuniary interests without reasonable excuse is a criminal offence, with a penalty of up to £5,000 and disqualification from office for up to 5 years.
5 Have Your Say!
a) The Chairman to invite members of the public to indicate if they wish to speak or present a petition at this meeting – either on an item on the agenda or on a general matter relating to the terms of reference of the Committee/Panel not on this agenda. You should indicate your wish to speak at this point if your name has not been noted by Council staff.

(b) The Chairman to invite contributions from members of the public who wish to Have Your Say! on a general matter relating to the terms of reference of the Committee/Panel not on this agenda.
6 Minutes
To confirm as a correct record the minutes of the meeting held on 16 September 2015.
21
RESOLVED that the minutes of the meeting on 16 September 2015 be confirmed as a correct record.

See report by the Head of Commercial services
22
The Head of Commercial Services submitted a report a copy of which had been circulated to each Member. 

Steve Heath, Finance Manager, presented the report and explained the sources of revenue income into the RIF.  This is currently projected to increase to £954k per year by 2018/19. The anticipated additional income from business rates from RIF activities was not yet available, but it would have a positive impact on the amount that the Council retains. The RIF expenditure forecast was £16,759,000. This would be met through a mixture of capital programme allocations, capital receipts and revenue funding. The capital programme allocations had been reviewed and reallocated since the Committee had last reviewed the RIF.  The shortfall from the capital programme would be met through capital receipts and revenue funding.  In summary, over the period to the end of 2018/19, a small surplus of £780,000 was forecast. The proposed budgets for RIF projects in the capital programme, were set out in Appendix B.
 
RESOLVED that:-

(a) The financial position in the Revolving Investment Fund be noted.

(b) The proposed allocations of funding set out in summary at paragraph 4.13 of the Head of Commercial Services report be agreed.

REASONS

Cabinet agreed to create the RIF as a way to recycle capital receipts into profitable high income producing development schemes and regeneration / economic growth projects. This paper sets out the updated financial position of the RIF and proposes allocations of funding to specific projects. 

ALTERNATIVE OPTIONS

It would be possible to consider different allocations to projects. However, the proposals in this report represent a considered view of the cost to deliver a number of projects and income budget targets. 



See report by the head of Commercial Services
23
The Head of Commercial Services submitted a report a copy of which had been circulated to each Member. 

Fiona Duhamel, Economic Growth Manager, presented the report and explained progress on the development since the proposal had been approved at the Committee meeting on November 2014.  An agreement for the lease had been signed with Birkett Long and planning permission had been granted on 5 November 2015. The project remained on timescale and on budget.  The next key milestone would be the issue of tenders in early December.  Now planning permission had been granted for this phase of the project, work would begin on marketing and finding a tenant for the next phase. 

Members of the Committee expressed their support for the development.  It was encouraging for Colchester that a successful local business wanted to develop its business in Colchester.  It was also a good example of the commercial approach to the use of the Council’s assets which would generate an ongoing income stream.  The green credentials of the building were emphasised, which was demonstrated by the fact that the building had been designed to reach the BREAM standard of Very Good.  

(a) Progress made against key milestones in the development programme be noted.
(b) Progress against programmed capital budget spend be noted.

REASONS

To ensure the development programme progresses on time and on budget and meets the Council’s overall objectives of delivering a high quality scheme with a revenue income to support service delivery.

ALTERNATIVE OPTIONS

No alternative options were proposed.
See report by the Head of Commercial Services
24
The Head of Commercial Services submitted a report a copy of which had been circulated to each Member.

Fiona Duhamel, Economic Growth Manager, presented the report and highlighted the vision for the site which was based on the related themes of participation, elite performance and health activity.  It was anticipated that the development would improve performance at elite level and would widen participation in sport more generally.  Increased participation in sport would also bring health benefits. 

The site was close to the park and ride site and its linkages with cycleways, footpaths and bridleways would be developed.  It was anticipated that the site would include the relocation of Colchester Rugby Club, including a 3G pitch, a multi sports building and cycling facilities, including a velodrome or closed road circuit. The Council was working with national agencies such as Sports England and sporting associations, as well as local sports clubs, in developing the proposals. 

Members of the Committee considered that the proposals fitted well the Strategic Plan priorities, particularly in relation to providing opportunities for health, wellbeing and enjoyment for all. It would also complement the more commercial leisure developments to the south of the A12. The scheme, in particular the cycling facilities, had great potential to attract large numbers of visitors to Colchester, 

In response to queries from members it was confirmed that all of the existing activities at the rugby club would be relocated, either to this site or elsewhere.  The exact nature and extent of the facilities to be provided for the club was still to be determined.  

RESOLVED that progress made to date on the feasibility study for the development of the site be noted. 

REASONS

To ensure the development of Northern Gateway as a key sports/leisure destination within the Borough and wider.

To ensure the initial business case is reviewed and agreed before progressing onto the more detailed work around the proposal.  

ALTERNATIVE OPTIONS

At this stage there are few alternative options as work is still at an early stage although the RIF could decide to re-visit the mix of uses and proposals for the site in the light of planning policy and market conditions.



10 Exclusion of the Public (Cabinet)
In accordance with Section 100A(4) of the Local Government Act 1972 and in accordance with The Local Authorities (Executive Arrangements) (Meetings and Access to Information) (England) Regulations 2012 to exclude the public, including the press, from the meeting so that any items containing exempt information (for example personal, financial or legal advice), in Part B of this agenda (printed on yellow paper) can be decided. (Exempt information is defined in Section 100I and Schedule 12A of the Local Government Act 1972).
Publication and call in arrangements
Date Published 12 November 2015  Date when decisions may be implemented (unless ‘called in’) 5pm 19 November 2015  All decisions except urgent decisions and those recommended to Council may be subject to the Call-in Procedure.   Requests for the scrutiny of relevant decisions by the Scrutiny Panel must be signed by at least ONE Councillor AND FOUR other Councillors to countersign the call-in form OR to indicate support by e-mail.  All such requests must be delivered to the Proper Officer by no later than 5pm on Thursday 19 November 2015.
Part B
11 16-09-15 not for publication extract
  • This report is not for publication by virtue of paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972 (financial / business affairs of a particular person, including the authority holding information).
The following document contains exempt information (financial/business affairs of a particular person, including the authority holding the information) as defined in paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972.

To note the Appendices to the Head of Commercial Services Report
  1. RIF finance summary appendices - not for publication
    • This report is not for publication by virtue of paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972 (financial / business affairs of a particular person, including the authority holding information).
26
The Committee resolved under Section 100A(4) of the Local Government Act 1972 and in accordance with the Local Authorities (Executive Arrangements)(Meetings and Access to Information)(England) Regulations 2012 to exclude the public from the meeting for the following items as they involved the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972.

RESOLVED that the appendices to the Head of Commercial Services report be noted.


The following document contains exempt information (financial/business affairs of a particular person, including the authority holding the information) as defined in paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972.

To approve the attached business case.
  1. Northern Gateway business case
    • This report is not for publication by virtue of paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972 (financial / business affairs of a particular person, including the authority holding information).
  2. Northern Gateway business case - plan
    • This report is not for publication by virtue of paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972 (financial / business affairs of a particular person, including the authority holding information).
27
The Committee resolved under Section 100A(4) of the Local Government Act 1972 and in accordance with the Local Authorities (Executive Arrangements)(Meetings and Access to Information)(England) Regulations 2012 to exclude the public from the meeting for the following items as they involved the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972.

The Head of Commercial Services submitted an initial business case for the Colchester Northern Gateway Sports Hub a copy of which had been circulated to each Member together with

RESOLVED that the initial business case for the proposed development be approved and that work be undertaken to progress a detailed business case to be presented to the RIF in January 2016.

REASONS

As set out in minute 24.

ALTERNATIVE OPTIONS

As set out in minute 24.

Attendance

Attended - Other Members
Name
No other member attendance information has been recorded for the meeting.
Apologies
NameReason for Sending ApologySubstituted By
No apology information has been recorded for the meeting.
Absent
NameReason for AbsenceSubstituted By
No absentee information has been recorded for the meeting.

Declarations of Interests

Member NameItem Ref.DetailsNature of DeclarationAction
No declarations of interest have been entered for this meeting.

Visitors

Also in attendance: Councillor Jarvis