Agenda and minutes

No declarations were made at this point.

There were no items of Urgent Business.

To approve the Minutes of the last meeting held on 26 July 2022 (previously circulated).

The minutes of the meeting held on 26 July 2022 were agreed as a correct record.

The Chief Executive presented a report which sought to confirm that Shareholder Committee’s Terms of Reference prior to being forwarded to Cabinet for approval.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

The officer preferred option is Option 1. By approving the Terms of Reference this allows for appropriate amendments to be made aligned to agreed processes as set out in the Shareholders Agreement.

It was suggested that one change should be proposed by the Committee prior to approval by Council Cabinet and this was that the Shareholder Committee meetings should be conducted in accordance with the rules of Council Cabinet as modified by any rules of the Committee.  This change was highlighted in the Appendix to the report (point 3.6.)

It was proposed by Councillor Caroline Jackson, seconded by Councillor Matthews and unanimously agreed when put to the vote:-

Resolved unanimously:

That the revised terms of reference as set out in the Appendix to the report be endorsed by the Shareholder Committee and forwarded to Cabinet for approval.

The Chief Executive presented a report which sought to confirm and approve the Shareholder Rules of Meeting.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

The officer preferred option is Option 1. By approving the Shareholder Committee Rules clarity around meeting conduct / processes was clear.

The Terms of Reference did not address the rules by which the Shareholders meetings should be conducted. The draftShareholder meeting Rules as appended to the report sought toaddress this lacuna and to provide clarity to the ShareholderCommittee, Directors and officers on how meetings were to beconducted.

It was proposed by Councillor Caroline Jackson proposed, seconded by Councillor Matthews and unanimously resolved:-

Resolved unanimously:

That the Morehomes for the Bay Shareholders Rules of Meeting document be approved.

The Chief Executive introduced a report that sought approval of the inaugural Business Plan for Morehomes for the Bay (Investments) Ltd, jointly with Morehomes for the Bay (Developments) Ltd, prior to a final decision by Lancaster City Council’s Cabinet as per the Companies Articles of Association.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

The officer preferred option was ‘Option 1’ – that the Shareholders Committee approves the inaugural joint Business Plan for Morehomes for the Bay (Investments) Ltd and Morehomes for the Bay (Developments) Ltd as detailed at Appendix 1 to the report. This would support the companies in having a working operational plan in how to conduct its business and lays down the parameters for bringing forward schemes in the future.

Councillor Caroline Jackson proposed, Councillor Hamilton-Cox seconded and it was unanimously agreed when put to the vote:-

Resolved unanimously:

(1)             That the Shareholders Committee approve the inaugural Business Plan.

(2)        That the Business Plan be shared with the Council’s Cabinet for final approval.

The Chief Executive presented a report that sought to provide an update to the Shareholders Committee around key areas of performance / activity since the last Shareholders Meeting in relation to activity of Morehomes for the Bay (Investments) Ltd and Morehomes for the Bay (Developments) Ltd.

It was reported that Sarah Davies had been removed as a Director from Companies House and Suzanne Lodge had now been registered as a Director for both companies.  An account with NatWest Bank had been applied for and the application was pending.

Resolved:

That the report be noted.

There were no items of Any Other Business.

The next meeting of the Shareholder Committee would take place on 17 January 2023 at the rise of Cabinet.