Decision details

To consider the report of the Director of Corporate Services recommending that the Council enters into a joint venture limited liability partnership with a private sector partner, Public Section Plc Facilitating Ltd

(i)  That the creation of a limited liability partnership (LLP) between the Council and Public Sector Plc Facilitating  Limited (PSPF) be approved;

(ii)  That the final terms of the necessary agreements be agreed by the Director of Corporate Services, following consultation with the Cabinet Member for Resources, provided that all the due diligence checks have been carried out successfully;

(iii)  That it be noted that the LLP arrangement requires the establishment of an LLP Members board with equal Council and private sector representation, supported by an Operations board for officers;

(iv)  That the Council representation on these boards be agreed by the Director of Corporate Services following consultation with the Cabinet Member for Resources once the format of these boards is established as part of the final terms of the agreement; and that the Council representation on the LLP board will be from members of the Cabinet;

(v)  That it be noted that the LLP will be an additional option for the Council to use to deal with its property portfolio; and

(vi)  That it be noted that further reports will be submitted to Cabinet in respect of relevant proposals to pursue a property related project through the LLP.

The purpose of the LLP would be to facilitate property related projects for the Council, making use of private sector funding, resources and skills in addition to those available through the Council and paid for by the LLP.  The Council can use the Strategic Partnership created to achieve a wide-range of property opportunities for the Council, including regeneration, redevelopment, rationalisation and property portfolio reductions. 

None.

None.