Unconfirmed MinutesInvestment and Property Subcommittee

24 November 2021

 

Investment and Property Subcommittee Minutes

 

Meeting held in the Council Chamber

36 Water Street, Whangārei

on Wednesday 24 November 2021, commencing at 1.00pm

 

 

Tuhinga/Present:

Chairperson, NRC Councillor, Rick Stolwerk

Ex-Officio Penny Smart via audio link

Councillor Justin Blaikie via audio link

Councillor Colin Kitchen via audio link

Councillor Jack Craw via audio link

Councillor Terry Archer via audio link

Independent Consultant Jonathan Eriksen via audio link

Independent Audit & Risk Advisor Danny Tuato'o via audio link

Independent Advisor Stuart Henderson via audio link

 

I Tae Mai/In Attendance:

Full Meeting

Pou Taumatua - GM Corporate Services

Tumuaki – Chief Executive Officer

Personal Assistant Corporate Services

Finance Manager

 

Part Meeting

Accounting Assistant – Treasury & Projects Officer

Strategic Projects and Facilities Manager

Property Officer

Property Officer

 

 

The Chair declared the meeting open at 1.00pm.

Ngā Mahi Whakapai/Housekeeping (Item 1.0)

Ngā whakapahā/Apologies (Item 2.0)

There were no apologies.

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 29 September 2021 (Item 4.1)

Report from Judith Graham, Corporate Services P/A

Moved (Craw/Smart)

That the minutes of the Investment and Property Subcommittee meeting held on 29 September 2021 be confirmed as a true and correct record.

Carried

 

Receipt of Investment and Property Subcommittee Action Sheet (Item 5.1)

Report from Judith Graham, Corporate Services P/A

Moved (Stolwerk/Smart)

That the action sheet be received.

Carried

 

Changes to Property Management Plan and Investment Policy (Item 6.1)

Report from Bruce Howse, Pou Taumatua – Group Manager Corporate Services

Moved (Craw/Smart)

1.              That the report ‘Changes to Property Management Plan and Investment Policy’ by Bruce Howse, Pou Taumatua – Group Manager Corporate Services and dated 28 October 2021, be received.

Carried

 

2.              That the subcommittee endorse the changes to the Property Management Plan and Investment Policy as described in this report and recommend to Council the adoption of the changes.

 

Councillor Craw opposed the changes, Councillor Kitchen and Archer wanted more time to consider. Subcommittee agreed to put it on hold and discuss it further at the next Investment and Property Subcommittee meeting dated 30 March 2022

 

Secretarial Note: 1.20pm Strategic Projects and Facilities Manager and the two Property Officers joined the meeting.

 

Kaupapa ā Roto/Business with Public Excluded (Item 7.0)

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

7.1

Confirmation of Confidential Minutes - Investment and Property Subcommittee meeting 29 September 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 -.

7.2

Introduction of Pencarrow VI Fund into the Long-Term Fund Investment Fund

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).

7.3

Investment strategy for the proceeds from the sale of the Kensington Development

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).

7.4

Update on Council’s Current Property Redevelopments

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).

7.5

Sale of an Industrial Area Property

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 Advisors be permitted to stay during business with the public excluded.

Carried

 

 

Whakamutunga (Conclusion)

The meeting concluded at 2.32pm.