Issue - meetings

RESOLVED that the Director of Commercial & Investment, in consultation with the Head of Legal and Governance, the Head of Finance, the Chair of the Commercial Ventures Executive Sub-Committee and the Head of Place Delivery, be authorised to:

a)       proceed with the next planned activities associated with the identified opportunity, as set out in the Project Baseball – 15 October 2020 – Exempt part 2 report, as a continuation of the project to support the delivery of the Council’s Corporate Plan objectives; and

b)       revise the allocation of funding from the Feasibility Studies (Commercial Ventures) Reserve to support the pursuance and effective administration of the identified opportunity, as set out in the Project Baseball – 15 October 2020 – Exempt, part 2 report.

Councillor T Archer, Executive Member for Investment and Companies, introduced the Project Baseball – 15 October 2020 report seeking authority to proceed with the next planned activities associated with Project Baseball.  It was considered that Project Baseball would support the delivery of the Council’s Corporate Plan objectives through its future prospective use and offers the potential to generate income for the Council.

The Commercial Ventures Executive Sub-Committee were reminded to be mindful that the opportunity was not without risk and note that all the potential benefits may not have been identified.

It was noted that full details of the opportunity, the financial and risk implications, and the Council’s proposed approach were set out in the exempt Part 2 report.

Clerk’s Note:        At this point in the meeting, agenda item 4 (Project Baseball – 15 October 2020) was adjourned so that the exempt information, agenda item 6 (Exempt Business) and 7 (Project Baseball – 15 October 2020 – Exempt), could be considered ahead of making a decision.

The minutes of the meeting reflect the order of business listed on the published agenda, not the order taken during the meeting.

On conclusion of agenda items 6 and 7, the Commercial Ventures Executive Sub-Committee returned to agenda item 4 and:

RESOLVED that the Director of Commercial & Investment, in consultation with the Head of Legal and Governance, the Head of Finance, the Chair of the Commercial Ventures Executive Sub-Committee and the Head of Place Delivery, be authorised to:

a)       proceed with the next planned activities associated with the identified opportunity, as set out in the Project Baseball – 15 October 2020 – Exempt part 2 report, as a continuation of the project to support the delivery of the Council’s Corporate Plan objectives; and

b)       revise the allocation of funding from the Feasibility Studies (Commercial Ventures) Reserve to support the pursuance and effective administration of the identified opportunity, as set out in the Project Baseball – 15 October 2020 – Exempt, part 2 report.

Reason for decisions:

Obtaining authority to proceed with the next proposed activities and the revision of the associated budget to support the identified project would support the Council’s Corporate Plan objectives as set out in the Project Baseball – 15 October 2020 - Exempt report.

Alternative Options:

Option 2:       Do nothing. This is not the recommended option as it would not support the Corporate Plan objectives.