Agenda item

Contact Officer: Richard Bayley

This report sets out the proposed approach to governance and procurement to go out to market to procure a private sector partner in July 2016.

 

Minutes:

The Portfolio Holder Introduced the paper which set out the proposed approach to governance and procurement to secure a private sector partner for the Manydown project which would start in July 2016.

 

The proposals were detailed in a revised outline business case which was being presented to the Manydown Executive Committee on 28 June 2016.

 

The Cabinet Member explained that it was the intention of the project to be delivered through a joint venture vehicle with a 50/50 voting arrangement basis between the councils – Basingstoke and Deane Borough Council and Hampshire County Council - and the private sector partner.

 

The governance approach would incorporate:

 

·         A corporate body to formalise the councils joint partnership approach;

 

·         A development company to deliver the Manydown project through a joint venture development company in which councils and the private sector partner would operate on a 50/50 voting arrangement; and

 

·         An investment company provide a framework for managing the longer term ownership of land and potentially revenue generating assets.

 

The Chairman then invited members of the committee to comment and ask questions of the Cabinet Member and the Manydown Project Director. The committee was broadly content that the governance structures appeared sound but wanted to ensure that the equity interest in the joint venture was reasonable and sufficient consideration was given to member review and oversight.

 

At the committee’s request, the chairman then moved that the meeting enter private session to consider the item further under paragraph 3 (information relating to the financial or business affairs of any particular person - including the authority holding that information) of Schedule 12a of the Local Government Act 1972.

 

Following the private session, the Chairman summarised the outcome of the discussion, which included;

 

·         Consideration of the need to ensure that cross party support was achieved in the development of governance arrangements.

 

·         Ensuring that there was an ethical assessment of financing arrangements with private sector partners.

 

·         Whether the committee could have site of the final evaluation criteria for securing a private sector partner, which the Manydown Project Director agreed to share at the members briefing session to be held in August 2016.

 

Resolved:

 

  1. The committee notes the progress made with the Manydown project.

 

  1. That the committee’s comments be presented to the Manydown Executive Committee on 28June 2016.

 

Supporting documents: