Meeting documents

Trading and Enterprise Board
Monday, 9th November, 2015 10.00 am

 Agenda Front Page 
 Agenda Papers 
 Minutes for this Meeting 
 Tabled Papers 
2.Declarations of Interest
3.Part I – For Decision
 The Council has been asked by A Better Choice for Property Limited and A Better Choice for Building Consultancy Limited (the “Companies”) to ratify and approve the appointment of the Auditors for the Companies. The Board has delegated authority to approve the appointment.
 Appointment of Auditors 
4.A Better Choice for Property Limited and A Better Choice forBuilding Consultancy Limited (the “Companies”) commencedoperating in 2014. These first Annual Reports provide anoverview of the Companies including their current marketactivity future plans and financial summary.
 Annual Reports 
5.Exempt Business Plan
 Exempt Appendix 3 to Business Plan
5.Under the Shareholder Agreement between the Council and A Better Choice for Property Limited (the “Company”) the Company is required to submit an updated Business Plan for approval. Under the terms of reference for the Board the Board is responsible for recommending approval of the Business Plan to the Cabinet.
 Business Plan for approval for ABC Property Ltd 
6.On 20th February 2014 the Council approved the release of the initial £2m tranche of the £10m loan facility to A Better Choice for Property Limited . A Better Choice for Property Limited (the “Company”) now requests the next three instalments of the loan facility and this report seeks the release of these tranches.
 Draw-down of Loan for A Better Choice For Property Ltd 
 Exempt Appendix
7.The Council (via the Trading and Enterprise Board) is asked to consider and approve some amendments to the Shareholder’s Agreements between the Council and the two Trading Companies.The requests seek amendments to some of the timings of reporting both draft and audited financial statements to the council and changes to a condition concerning the limit beyond which the TEB’s approval to individual property acquisitions is needed. It is also requested due to the low level of activity that the frequency of formal progress reporting to the TEB is changed from quarterly to six-monthly.In order to ensure the council’s statutory financial reporting arrangements can be met it is being recommended also that an amendment is adopted seeking year end unaudited accounts at an early stage.
 Amendment to the Shareholder’s Agreements 
8.Date of Next meeting
9.Part II – Monitoring/Information Items - None for this Meeting