Issue - meetings

The Executive Director of Finance and Corporate Resources presented a report that proposed updates to the Acquisition and Investment Strategy that had been approved in January 2018.  The Council had anticipated making investments worth £5 million in 2019/20 but none of the funding had yet been spent.  Under the existing terms in the strategy any investment opportunities that were identified would have to first be reported back to the Executive Committee before any action could be taken.  The update report proposed that Officers should be able to undertake initial financial modelling in line with KPMG guidance and an initial offer could be made by officers, subject to approval by the Executive Committee.

During the debate in respect of the strategy Members questioned whether the Council had identified any potential opportunities for investment.  Officers confirmed that no opportunities had been identified by the date of the meeting, though the Head of North Worcestershire Economic Development Unit was monitoring local developments.  As agreed in the policy the Council could choose to invest in projects within the Borough or in locations adjacent to the Borough.

RESOLVED that

the Investment Strategy Report 2019/20 be approved and adopted.