Investment and
Property Subcommittee
29 September 2021
Investment and
Property Subcommittee Minutes
Meeting held Remotely via Zoom
on Wednesday 29 September 2021, commencing at 1.00pm
Tuhinga/Present:
Chairperson, NRC Councillor, Rick Stolwerk
Ex-Officio Penny Smart
Councillor Justin Blaikie
Councillor Jack Craw
Councillor Terry Archer
Independent Consultant Jonathan Eriksen
Independent Audit & Risk Advisor Danny Tuato'o
Independent Financial Advisor Stuart Henderson
I
Tae Mai/In Attendance:
Full Meeting
Pou Taumatua - GM Corporate Services
Tumuaki- CEO
PA Corporate Services
Finance Manager
Strategic Projects and Facilities Manager
Property Officer
Property Officer
Part Meeting
Director - Jenksmax Consulting
Limited
Gerome Powell – Argyle Estate Development Manager
Craig Parr – Argyle Estate Project Manager
The Chair declared the meeting open at 1.02pm.
Ngā Mahi Whakapai/Housekeeping (Item 1.0)
Ngā
whakapahā/Apologies (Item
2.0)
|
Moved (Craw/Smart)
That the apologies from
Councillor Colin Kitchen for non-attendance be received.
Carried
|
Nga
whakapuakanga/Declarations of Conflicts of Interest (Item 3.0)
It was advised that members should make declarations
item-by-item as the meeting progressed.
|
Confirmation of Minutes - Investment and
Property Subcommittee 30 June 2021 (Item 4.1)
Report from Judith Graham, Corporate Excellence P/A
|
|
Moved (Craw/ Smart)
That the minutes of the
Investment and Property Subcommittee meeting held on 30 June 2021 be
confirmed as a true and correct record.
Carried
|
|
Mount Tiger Forest Management Plan -
Reporting Actual Performance Against Targets 2020/2021 (Item 5.1)
Report from Nicole Inger, Property Officer
|
|
That the report ‘Mount Tiger
Forest Management Plan - Reporting Actual Performance Against Targets
2020/2021’ by Nicole Inger, Property Projects Officer and dated 21
September 2021, be received.
Secretarial Note: Item 5.1 Mount Tiger Forest
Management Plan was not moved and second by the subcommittee.
Secretarial Note: Councillor Blaikie left the meeting
at 1:08pm.
Director - Jenksmax Consulting Limited advised the
Subcommittee that Northland Foresty Management will be the new contact for
Mount Tiger Forest maintenance and operations.
Action: Pou Taumatua - GM Corporate Services to
talk with Biosecurity team regarding the kiwi link community pest protection
and completing a stocktake of the native areas in the Mount Tiger estate
approximately 150 hectares.
Secretarial Note: 1.17pm Director -
Jenksmax Consulting Limited left the meeting.
|
|
Responsible
Investment Report - June 2021 (Item 5.2)
Report from Simon Crabb, Finance Manager
|
|
Moved (Craw /Penny)
That the report ‘Responsible
Investment Report - June 2021’ by Simon Crabb, Finance Manager and
dated 24 August 2021, be received.
Carried
Action: Independent
Consultant Jonathan Eriksen to report back to Subcommittee in January 2022
around BlackRock manager ESG holdings as information was not available in
Junes Responsible Investment Report due to the difficulties in contacting
BlackRock fund manager.
|
|
Performance of
Councils Externally Managed Funds to 31 August 2021 (Item 5.3)
Report from Simon Crabb, Finance Manager
|
|
Moved (Stolwerk
/Smart)
That the report ‘Performance of Councils
Externally Managed Funds to 31 August 2021 ’ by Simon Crabb, Finance Manager and dated 17 September 2021, be received.
Carried
Action: : Independent
Consultant Jonathan Eriksen to send through a synopsis of current and future
potential performance of Federation Alternative.
Secretarial
Note: 2.01pm Gerome Powell and Craig Parr from Argyle Estate joined
the meeting
|
Secretarial Note: Chair noted that subcommittee did
not acknowledge receipt tabled item 2.0A at the start of the meeting.
Subcommittee members confirm receipt of supplementary item 2.0A Transfer of
NIWA cashflow from Long term fund.
|
Transfer
of NIWA cashflow from Long term fund (Item
5.4)
Report from Simon Crabb, Finance Manager
|
|
Moved (Stolwerk/Smart)
That the report ‘Transfer
of NIWA cashflow from Long term fund’ by Simon Crabb, Finance Manager and
dated 24 September 2021, be received.
Carried
Secretarial
Note: Tumuaki- CEO to authorise withdrawal of $210,000 and review at next
month’s Chair investment meeting dated 22 October.
|
Kaupapa ā Roto/Business with Public Excluded (Item 6.0)
|
Moved (Stolwerk/ Smart)
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
|
Confirmation
of Confidential Minutes - Investment and Property Subcommittee 30 June 2021
|
The public
conduct of the proceedings would be likely to result in disclosure of
information, as stated in the open section of the meeting -.
|
|
6.2
|
Progressing
the Hannah Street Redevelopment
|
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
|
Progressing
the Waipapa Service Centre
|
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).
|
|
6.4
|
Purchasing
Process for Whangarei CBD and Hihiaua Precinct
|
The public
conduct of the proceedings would be likely to result in disclosure of
information, the withholding of which is necessary to protect information
where the making available of the information would be likely unreasonably
to prejudice the commercial position of the person who supplied or who is
the subject of the information s7(2)(b)(ii), 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).
|
|
6.5
|
Kaipara
Service Centre Update
|
The public
conduct of the proceedings would be likely to result in disclosure of
information, the withholding of which is necessary to protect information
where the making available of the information would be likely unreasonably
to prejudice the commercial position of the person who supplied or who is
the subject of the information s7(2)(b)(ii) and the withholding of which is
necessary to enable council to carry out, without prejudice or
disadvantage, commercial activities s7(2)(h).
|
|
6.6
|
Ngunguru
Sandspit Protection Society Inc Request
|
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 on, without prejudice or disadvantage, negotiations (including
commercial and industrial negotiations) s7(2)(i).
|
3.
That the Independent Advisors be permitted to stay during business
with the public excluded.
4.
That Argyle Estate Development Manager and Project Manager be
permitted to stay during business with public excluded until the end of item
6.2 Progressing the Hannah Street Redevelopment.
Carried
|
Whakamutunga (Conclusion)
The meeting concluded at 3.14pm