That:

1)              the refocusing of the existing Investment Strategy and criteria, as set out in Appendix A, be noted;

2)              it be noted that the delegated authority already given to the Deputy Chief Executive in consultation with the Leader, Executive Member for Finance and Housing and the Executive Member for Business and Economic Development, applies to this refocused policy;

3)              the changes to the delegated authority with regard to investment criteria, as set out in Appendix A, be agreed.

The Executive considered a report setting out proposals for implementing a Community Investment Strategy to improve resources available to the Council by acquiring property assets that would enhance WBC policy delivery in the Borough.

The Executive Member for Business and Economic Development introduced the report and drew Members’ attention to the fact that the report was refocussing the Property Investment Strategy that was approved by the Executive in September 2017.   

Councillor Kaiser explained that part of the reason for refocussing the Strategy was because the Public Works Loans Board had changed its criteria and as a result the Council would only be investing within the Borough or in partnership with another body outside the Borough, provided it would benefit the Borough.  Councillor Kaiser also pointed out the criteria for investment as set out in Appendix A.

RESOLVED that:

1)              the refocusing of the existing Investment Strategy and criteria, as set out in Appendix A, be noted;

2)              it be noted that the delegated authority already given to the Deputy Chief Executive in consultation with the Leader, Executive Member for Finance and Housing and the Executive Member for Business and Economic Development, applies to this refocused policy;

3)              the changes to the delegated authority with regard to investment criteria, as set out in Appendix A, be agreed.