Agenda and minutes

There were no apologies received.

To be appraised of any changes to the membership of the Committee in accordance with Council Procedure Rule 4.

There were no changes to the membership of the Working Group.

If a Member requires advice on Declarations of Interest, he/she is advised to contact the Legal and Democratic Services Manager in advance of the meeting. (For the assistance of Members, a checklist for use in considering their position on any particular item is included at the end of this agenda sheet)

There were no declarations of Interest.

Note: No other business is permitted unless, by reason of special circumstances, which shall be specified at the meeting, the Chairman is of the opinion that the item(s) should be considered as a matter of urgency.

There were no urgent items of business.

To receive as a correct record, the minutes of the meeting held on 8 December 2020.

RESOLVED: That the minutes of the meeting held on 8 December 2020, be approved as a correct record and signed by the Chairman.

It is recommended that members of the press and public be excluded from the meeting during consideration of the following items of business in accordance with section 100A(4) of the Local Government Act 1972, obn the grounds that it involves the likely disclosure of exempt information as defined in Paragraph 3 (Financial Business) of Part 1 of Schedule 12A to the Act and as in all circumstances of the case, not in the public interest in disclosing the information.

RESOLVED: That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting during consideration of the following items of business on the grounds that it involves the likely disclosure of exempt information as defined in paragraph 3 (Financial Business) of Part 1 of Schedule 12A to the Act and as in all circumstances of the case, not in the public interest in disclosing the information.  

Members to receive a presentation from the Investments Project Manager.

The Working Group received a presentation from the Investments Project Advisor, which provided an update on the change of direction in the Commercial Property Investment Strategy, as a result of changes in Public Works Loan Board borrowing rules.

Comments and Questions were raised as follows:

·         Borrowing for new build investments

·         Risk assessment of new builds

·         Principle approach no longer being to acquire existing buildings, due to changes in lending regulation

·         Any relevant changes to be brought before the Council as appropriate

RESOLVED: That the update be noted.

Members to receive a presentation from the Estates and Valuation Manager.

The Working Group received a presentation from the Estates and Valuation Manager, which provided an update on available options for development of land off Moss Lane View, White Moss Business Park, Skelmersdale.

Comments and Questions were raised as follows:

·         Small businesses growing and there being no sufficient sized units available within the Borough, to keep them local.

·         Green Village generating own electric

·         Ability to share facilities with another nearby site.

RESOLVED: That the update be noted.

Members to receive a presentation from the Finance and Audit Manager. (To follow)

The Working Group received a presentation from the Investments Project Advisor, which provided details of two proposed strategies in regards to the procurement of external Advisors to assist with longer term treasury management investments.   

Comments and Questions were raised as follows:

·         The experience LCC have in regard to the types of investment required

RESOLVED: That the update be noted.