Investment Committee
4 March 2025
Investment Committee Minutes
Meeting held in the Council Chamber
36 Water Street, Whangārei
on Tuesday 4 March 2025, commencing at 1:30pm
Tuhinga/Present:
Independent Investment Advisor, Daniel Mussett
Councillor John Blackwell
Councillor Jack Craw
Councillor Rick Stolwerk
Councillor Geoff Crawford (Ex-Officio)
Independent Tangata Whenua Member George Riley
I
Tae Mai/In Attendance:
Full Meeting
Councillor Amy Macdonald
Tāhūhū Rangapū – Chief
Executive, Jonathan Gibbard
Pou Taumatua - GM Corporate Services, Bruce Howse
Finance Manager, Simon Crabb
Strategic Projects and Facilities Manager, Phil Heatley
Personal Assistant to GM Corporate Services, Margaret
Knight
Part Meeting
EriksenGlobal – Jonathan Eriksen and Adam Muir
The Chair declared the meeting open at 1.35pm with George
Riley commencing the proceedings with a karakia..
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.
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Investment Committee Induction (Item 4.1)
Report from Bruce Howse, Pou Taumatua – Group
Manager Corporate Services
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Moved
(Stolwerk/Craw)
That the report ‘Investment
Committee Induction’ by Bruce Howse, Pou Taumatua – Group Manager
Corporate Services and dated 25 February 2025, be received.
Carried
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Secretarial Note:
1. Scott
Hamilton of Rautaki Consulting led the discussion with an overview of
NRC’s investment portfolio and objectives of the committee and move to a
broader investment strategy of the council.
2. Review
of SIPO will be completed August/September this year.
Kaupapa ā Roto/Business with Public Excluded (Item 5.0)
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Moved
(Stolwerk/Crawford)
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:
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Item No.
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Item Issue
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Reasons/Grounds
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5.1
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Investment
Committee Induction Part 2
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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).
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5.2
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Withdrawal
of the Planned 2024-25 Annual General Funding Contributions from the
Managed Investment Fund Portfolio
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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).
|
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5.3
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Request
for Property Reinvestment Funding
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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).
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5.4
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Update on
Council’s Current Redevelopments and Other Property Matters
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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).
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3.
That the Independent Advisors be permitted to stay during business
with the public excluded
.Carried
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Whakamutunga (Conclusion)
The meeting concluded at 3.35pm with a karakia by George
Riley.