|
Investment and Property Subcommittee Wednesday 25 November 2020 at 9.30am
|
|
|
|
|
|
Investment and Property Subcommittee Wednesday 25 November 2020 at 9.30am
|
|
|
|
|
Investment and Property Subcommittee
25 November 2020
Investment and Property Subcommittee Agenda
Meeting to be held in the Council Chamber
36 Water Street, Whangārei
on Wednesday 25 November 2020, commencing at 9.30am
Recommendations contained in the agenda are NOT decisions of the meeting. Please refer to minutes for resolutions.
MEMBERSHIP OF THE Investment and Property Subcommittee
Chairperson, NRC Councillor Rick Stolwerk
|
Councillor Justin Blaikie |
Councillor Colin Kitchen |
Ex-Officio Penny Smart |
|
Councillor Jack Craw |
Independent Financial Advisor Geoff Copstick |
Independent Audit & Risk Advisor Danny Tuato'o |
|
Independent Financial Advisor Jonathan Eriksen |
|
|
Item Page
1.0 Housekeeping
2.0 apologies
3.0 declarations of conflicts of interest
4.1 Confirmation of Minutes - 26 August 2020 3
5.1 Performance of Council Externally Managed Funds to 31 October 2020 7
5.2 Responsible Investment Report - as at 30 June 2020 25
5.3 General Business
- Borrowing for redevelopments
6.0 Business with the Public Excluded 32
6.1 Update on Significant Redevelopment Projects
6.2 Investment Property Strategy 2021-2024
6.3 Kaipara District Council Accommodation in Mangawhai
Investment and Property Subcommittee item: 4.1
25 November 2020
|
TITLE: |
Confirmation of Minutes - 26 August 2020 |
|
ID: |
A1382158 |
|
From: |
Judith Graham, Corporate Excellence P/A |
|
Authorised by Group Manager: |
Bruce Howse, Group Manager - Corporate Excellence, on date |
That the minutes of the Investment & Property Subcommittee meeting held on 26 August 2020 to be confirmed as a true and correct record.
Attachments/Ngā tapirihanga
Attachment 1: Investment & Property
Subcommittee meeting 26 August 2020 ⇩ 
Investment and Property Subcommittee item: 5.1
25 November 2020
|
TITLE: |
Performance of Council Externally Managed Funds to 31 October 2020 |
|
ID: |
A1387168 |
|
From: |
Simon Crabb, Finance Manager |
|
Authorised by Group Manager: |
Bruce Howse, Group Manager - Corporate Excellence, on |
Executive summary/Whakarāpopototanga
<<enter text>>
That the report ‘Performance of Council Externally Managed Funds to 31 October 2020’ by Simon Crabb, Finance Manager and dated 18 November 2020, be received.
Background/Tuhinga
Jonathan Eriksen from EriksensGlobal will be joining in via Zoom to answer any questions.
Attachments/Ngā tapirihanga
Attachment 1: Performance of Council
Externally Managed Funds to 31 October 2020 ⇩ 
25 November 2020
|
TITLE: |
Responsible Investment Report - as at 30 June 2020 |
|
ID: |
A1365954 |
|
From: |
Simon Crabb, Finance Manager |
Executive summary/Whakarāpopototanga
Responsible investing, also known as ethical investing or sustainable investing, is a holistic approach to investing, where social, environmental, corporate governance (ESG) and ethical factors are considered alongside financial performance when making an investment decision.
Councils Statement of Investment Policy and Objectives (SIPO) is the key document that sets out council’s responsible investment expectations in regards to its externally managed fund portfolio. Specifically, restricting investments in:
· Fossil fuels (exploration, extraction and processing)
· Alcohol
· Tobacco
· Gambling
· Military weapons
· Civilian firearms
· Nuclear power
· Adult entertainment
The EriksensGlobal responsible investment report as at 30 June 2020 is attached. This report presents councils exposure to restricted investments, as well as its investments in companies that support environmental sustainability.
That the report ‘Responsible Investment Report - as at 30 June 2020’ by Simon Crabb, Finance Manager and dated 22 September 2020, be received.
Background/Tuhinga
<<enter text>>
Attachments/Ngā tapirihanga
Attachment 1: NRC Responsible
Investment Report ⇩ 
Authorised by Group Manager
|
Name: |
Bruce Howse |
|
Title: |
Group Manager - Corporate Excellence |
|
Date: |
22 September 2020 |
Investment and Property Subcommittee ITEM: 6.0
25 November 2020
|
TITLE: |
Executive Summary
The purpose of this report is to recommend that the public be excluded from the proceedings of this meeting to consider the confidential matters detailed below for the reasons given.
1. That the public be excluded from the proceedings of this meeting to consider confidential matters.
2. That the general subject of the matters to be considered whilst the public is excluded, the reasons for passing this resolution in relation to this matter, and the specific grounds under the Local Government Official Information and Meetings Act 1987 for the passing of this resolution, are as follows:
|
Item No. |
Item Issue |
Reasons/Grounds |
|
6.1 |
Update on Significant Redevelopment Projects |
The public conduct of the proceedings would be likely to result in disclosure of information, the withholding of which is necessary to enable council to carry out, without prejudice or disadvantage, commercial activities s7(2)(h) and the withholding of which is necessary to enable council to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations) s7(2)(i). |
|
6.2 |
Investment Property Strategy 2021-2024 |
The public conduct of the proceedings would be likely to result in disclosure of information, the withholding of which is necessary to enable council to carry out, without prejudice or disadvantage, commercial activities s7(2)(h) and the withholding of which is necessary to enable council to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations) s7(2)(i). |
|
6.3 |
Kaipara District Council Accommodation in Mangawhai |
The public conduct of the proceedings would be likely to result in disclosure of information, the withholding of which is necessary to enable council to carry out, without prejudice or disadvantage, commercial activities s7(2)(h) and the withholding of which is necessary to enable council to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations) s7(2)(i). |
3. That the Independent Financial Advisors be permitted to stay during business with the public excluded.
Considerations
1. Options
Not applicable. This is an administrative procedure.
2. Significance and Engagement
This is a procedural matter required by law. Hence when assessed against council policy is deemed to be of low significance.
3. Policy and Legislative Compliance
The report complies with the provisions to exclude the public from the whole or any part of the proceedings of any meeting as detailed in sections 47 and 48 of the Local Government Official Information Act 1987.
4. Other Considerations
Being a purely administrative matter; Community Views, Māori Impact Statement, Financial Implications, and Implementation Issues are not applicable.
