Decision details

Executive considered a report of the Portfolio Holder – Growth/Economic Development that set out proposals to create a Development Company that would operate as a Limited Liability Partnership.  The report set out the reasons for the proposal and the matters that required consideration before such a company could be incorporated.

Moved by Councillor Steve Fritchley and seconded by Councillor Duncan McGregor

RESOLVED that –

1)    a decision be made in principle to create a Development Company (DevCo) that would operate as a Limited Liability Partnership and establish a “Partnership Board” for the DevCo with an associated Members Agreement.

2)    delegation be granted to the Executive Director of Strategy and Development in consultation with the Leader and Portfolio Holder and the Section 151 Officer and the Monitoring Officer to incorporate a Limited Liability Partnership (LLP) Development Company including the establishment of a Partnership Board and/or Investment Board and a Members Agreement.

(Executive Director of Strategy and Development)

REASON FOR DECISION:

The DevCo was closely aligned to the Council’s ambition for the District because it would make a meaningful and positive contribution to the social, economic and environmental objectives of the Council.

OTHER OPTIONS CONSIDERED:

A ‘do nothing’ option was rejected because the creation of a Development Company was closely aligned with achieving the Council’s ambitions and was supported by the Council’s Business Growth Strategy and Empty Properties Strategy.

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