Decision details

RESOLVED:

That District Executive:-

a.

approved the Commercial Strategy 2017-2021 (Interim Update 2019) as per the attached revised Strategy at Appendix 1;

b.

approved that any capital received from the disposal of investment assets (only) are used as part of a revolving investment fund, unless specifically agreed otherwise by council;

c.

recommends to Full Council the approval of an increased investment fund limit and borrowing limit to take the council through to 2021, as set out at Appendix 2 as a Confidential item;

d.

recommends to Full Council the increased level of delegation of individual investment / acquisition approvals to the CEO in consultation with the Leader as set out at Appendix 2 as a Confidential item.

Reason:

To note the mid-term review of the Commercial Strategy 2017-2021 which was originally approved by District Executive and Full Council in August 2017 and to update and strengthen the Strategy to ensure that it is fit for purpose until 2021.