Agenda and draft minutes

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Items
No. Item

51.

Declarations of interest

Minutes:

There were no declarations of interest.

52.

Scrutiny comments and/or recommendations

The Group is asked to consider any comments and/or recommendations from the Companies’ Scrutiny Panel on matters not on the agenda.

 

Representatives of the Companies’ Scrutiny Panel may also comment on substantive items.

 

Minutes:

There were no recommendations from the Companies Scrutiny Panel tabled under this agenda item, but members of the Companies Scrutiny Panel contributed to the discussion on all agenda items as minuted.

53.

Barton Oxford LLP [public]

The Council’s representatives on the Limited Liability Partnership (LLP)

and supporting officers:

·               Ian Brooke, Director

·               Carolyn Ploszynski, Director

·               Jane Winfield, Director

·               Sarah Knight, Head of Development (Housing Services)

Minutes:

The following Barton LLP representatives were present for this item:

·       Sarah Knight, Head of Development (Housing Services)

·       Jane Winfield, Director

53a

Quarterly Progress Report relating to Barton Oxford LLP pdf icon PDF 358 KB

Report of: Sarah Knight, Head of Development

Purpose of report: To provide an update into the activities of Barton Oxford LLP (BOLLP) over the past quarter.

Recommendation: The Shareholder and Joint Venture Group is resolved to

1.    Approve the appointment of Deloitte as the external auditors as detailed in paragraph 5

2.    Note the contents of the report

Minutes:

The Shareholder and Joint Venture Group considered a report which provided an update into the activities of Barton Oxford LLP (BOLLP) over the last quarter.  Sarah Knight, Head of Development (Housing Services) introduced the report and highlighted that the Group were asked to agree the recommendation of the appointment of Deloitte for 2024 following the advice from the Grosvenor Finance Team, which would be a change from Mazars, based on achieving value for money and a good service. 

In response to questions from the Group regarding Barton 3B, it was noted that the prospective buyer had fallen away due to delays caused by the regularisation of the planning position at the site.  Sarah Knight emphasised that the advice received to the LLP was that although there was a low risk of the ‘physical impossibility’ occurring, there was a high risk of the impact of such if it did occur.  A solution was being sought with the planning department and would be reported back at the next meeting.

The Shareholder and Joint Venture Group resolved to:

1.    Approve the appointment of Deloitte as the external auditors as detailed in paragraph 5.

2.    Note the contents of the report.

54.

SJVG Confidentiality and private session

If the SJVG wishes to exclude the press and the public from the meeting during consideration of any of the items on the exempt from publication part of the agenda, it will be necessary for the SJVG to pass a resolution in accordance with the provisions of Paragraph 4(2)(b) of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012 on the grounds that their presence could involve the likely disclosure of exempt information as described in specific paragraphs of Schedule 12A of the Local Government Act 1972.

The SJVG may maintain the exemption if and so long as, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Minutes:

The Shareholder and Joint Venture Group passed a resolution in accordance with the provisions of Paragraph 4(2)(b) of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012 to exclude the press and members of the public on the grounds that Oxford City Council, Town Hall, St Aldate’s, Oxford OX1 1BX, their presence could involve the likely disclosure of exempt information as described in specific paragraphs of Schedule 12A of the Local Government Act 1972.

55.

Commentary to the OX Place Business Plan Refresh October 2023

Report of: The Head of Financial Services (Section 151 Officer)

Purpose of report: To provide the Shareholder and Joint Venture Group information on the 40 year business plan for the Group of Companies within OX Place.

Minutes:

The Shareholder and Joint Venture Group (SJVG) received a report from the Head of Financial Services which provided an overview of the implications to Oxford City Council, to be considered alongside the report on the agenda regarding the 40 year business plan for the Group of Companies within OX Place.

The SJVG discussed the report in private session.

The SJVG noted the contents of the report.

56.

OX Place [private]

Those who may attend for this company’s item:

·       Kerry Kyriacou - Chair

·       Rosemary Farrar – NED and Chair of Audit, Risk and Governance Committee

·       Peter Matthew - NED

·       Jane Winfield - NED

·       Helen Horne - MD

·       Lindsay D Cane – Company Secretary

·       Sarah Knight – Head of Development

·       David Watt – Strategic Finance Manager

Apologies:

·       Michelle Chidgey - Head of Sales & Marketing

Minutes:

The following OX Place representatives were present for this item:

·       Helen Horne, Managing Director, OX Place

·       Kerry Kyriacou, Non-Executive Director and Chair of OX Place

·       Rosemary Farrar, Non-Executive Director and Chair of the Audit and Risk Governance Group

·       Sarah Knight, Head of Development (Housing Services)

·       David Watt, Finance Business Partner, OX Place

·       Lindsay Cane, Company Secretary, OX Place

·       Jane Winfield, Director

56a

Introduction from the Chair

Minutes:

The Shareholder and Joint Venture Group received a verbal update from Kerry Kyriacou, Non-Executive Director and Chair of OX Place, which set out the format and content of the following reports to be discussed in a private session.

Lindsay Cane joined the meeting.

56b

Audit Risk and Governance Summary

Report from: Helen Horne, Managing Director and Rosemary Farrar, Chair of Audit Risk and Governance Committee

Purpose of report: The revised format for the Strategic Risk Register had been adopted and the rescored Strategic Risk Register as approved at the ARG on 24 July 2023 was attached.

Recommendation: The Shareholder and Joint Venture Group is resolved to consider and comment on the Strategic Risk Register as presented by the ARG Committee.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group (SJVG) received a report from Rosemary Farrar, Non-Executive Director and Chair of the Audit Risk and Governance Committee (ARG) which provided a revised format for the Strategic Risk Register that had been adopted and the rescored Strategic Risk Register as approved by the ARG on 24 July 2024.

Rosemary Farrar and Helen Horne, Managing Director of OX Place, answered questions from those members of the SJVG and Companies Scrutiny Panel present at the meeting in private session.

The Shareholder and Joint Venture Group resolved to consider and comment on the Strategic Risk Register as presented by the ARG Committee.

Cllr Linda Smith joined the meeting.

56c

2022/23 Statement of Accounts and Dividend Declaration

Report of: David Watt, Strategic Finance Manager

Purpose of report: To advise the Shareholder and Joint Venture Group that OCHL’s external auditors, Mazars, completed the audit and presented the 2022/23 OCHL group and individual company accounts, and their associated audit opinion, to the ARG Committee at its meeting on 26 September 2023.

Recommendation: That the Shareholder and Joint Venture Group is resolved to note:

1.    The signing off and continued unqualified audit opinion of the OCHL group and individual company statement of accounts for 2022/23.

2.    Note the decision by the OX Place Board, at its meeting on the 18 October 2023, to pay the company’s shareholder, OCC, £2m in dividends, in line with the Council’s MTFP.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group (SJVG) considered a report which advised that OCHL’s external auditors, Mazars, had completed the audit and presented the 2022/23 OCHL group and individual company accounts, and their associated audit opinion, to the ARG Committee at its meeting on 26 September 2023.

Helen Horne, Managing Director, OX Place and David Watt, Finance Business Partner, answered questions from those members of the SJVG and Companies Scrutiny Panel present at the meeting in private session.

The Shareholder and Joint Venture Group resolved to note:

1.    The signing off and continued unqualified audit opinion of the OCHL group and individual company statement of accounts for 2022/23.

2.    Note the decision by the OX Place Board, at its meeting on the 18 October 2023, to pay the company’s shareholder, OCC, £2m in dividends, in line with the Council’s MTFP.

The Group agreed to take the next agenda items in the following order:

·       7f MD Report

·       7e Business Plan Refresh – October 2023

·       7d For-Profit Registered Provider

56d

MD Report

Report of: Helen Horne, Managing Director

Purpose of report: To update the Shareholder and Joint Venture Group on the day-to-day actions and progress since the previous OX Place Shareholder and Joint Venture Group meeting.

Recommendation: That the Shareholder and Joint Venture Group resolves to note the contents of the report.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group (SJVG) received a report from Helen Horne, Managing Director, OX Place, which updated the Shareholder on the day-to-day actions and progress since the previous OX Place SJVG meeting, and answered questions from those members of the SJVG and Companies Scrutiny Panel present at the meeting in private session.

The Shareholder and Joint Venture Group resolved to note the contents of the report.

56e

Business Plan Refresh - October 2023

Report of: Helen Horne, Managing Director and David Watt, Strategic Finance Manager

Purpose of report: To assist in the Council’s upcoming 2024/25 budget exercise, OX Place has undertaken a review of its individual company Business Plans taking on board changes in economic assumptions (inflation and borrowing projections etc.), amendments to the existing development and acquisition programme and taking on board issues facing the Council’s Housing Revenue Account (HRA).

Recommendation: That the Shareholder and Joint Venture Group are resolved to:

1.    Note the contents of this report and its appendices and provide feedback and commentary on the outcomes and implications as detailed.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group (SJVG) considered a report from Helen Horne, Managing Director and David Watt, Finance Business Partner, which provided information to assist the Council in its upcoming 2024/25 budget exercise.  OX Place had undertaken a review of its individual company Business Plans, taking on board changes in economic assumptions (inflation and borrowing projections, etc), amendments to the existing development and acquisition programme and taking on board issues facing the Council’s Housing Revenue Account (HRA).

Helen Horne and David Watt answered questions from the SJVG and Companies Scrutiny Panel present at the meeting in a private session.

The Shareholder and Joint Venture Group resolved to:

1.    Note the contents of this report and its appendices and provide feedback and commentary on the outcomes and implications as detailed.

56f

For-Profit Registered Provider

Report of: Helen Horne, Managing Director

Purpose of report: To update the Shareholder on the rationale and progress in the work to evaluation the viability of a For-Profit Registered Provider.

Recommendation: The Shareholder and Joint Venture Group is resolved to:

1.    Note the contents of this report and its appendix and provide feedback and commentary on the outcomes and implications as detailed.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group (SJVG) considered a report from Helen Horne, Managing Director of OX Place, which updated on the rationale and progress in the work to evaluation the viability of a For-Profit Registered Provider.

Helen Horne answered questions from those members of the SJVG and Companies Scrutiny Panel present at the meeting in a private session.

The Shareholder and Joint Venture Group resolved to:

1.    Note the contents of the report and its appendix and provide feedback and commentary on the outcomes and implications as detailed.

57.

OxWED LLP [private]

Those who may attend for this company’s item:

Tom Bridgman, Director

Jane Winfield, Director

Carolyn Ploszynski, Director

Kevin Minns, Managing Director, OxWED LLP

Minutes:

The following representatives were present for this item:

·       Tom Bridgman, Director of Development, Director

·       Kevin Minns, Managing Director, OXWED LLP

·       Jonathan Solomon, JDS Real Estate

·       Jane Winfield, Director

·       Carolyn Ploszynski, Director

57a

Stage 2 and 3 update to the OCC Shareholder and Joint Venture Group - 1 November 2023

Report of: OxWED LLP

Purpose of Report: To update the Shareholder and Joint Venture Group on Stages 2 and 3 of the project.

Recommendation: That the Shareholder and Joint Venture Group note the contents of the report and approve the recommendations as set out in Paragraph 7.3 of the report.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group (SJVG) considered a report which provided an update into the activities of OXWED LLP.

The SJVG discussed the report in private session.

The Shareholder and Joint Venture Group resolved to note the contents of the report and approve the recommendations as set out in Paragraph 7.3 of the report.

Cllr Ed Turner left the meeting and did not return.

Kevin Minns, Jonathan Soloman and Carolyn Ploszynski left the meeting and did not return.

58.

Commentary on report to OXWED Shareholders and Joint Venture Group Report

Report of: Head of Financial Services and Head of Property

Purpose of report: To provide a commentary for the Shareholder and Joint Venture Group, prepared by officers of Oxford City Council, to give an overview of the implications to the City Council. It should be considered alongside the report on the agenda.

The Shareholder and Joint Venture Group are asked to note the report.

Minutes:

The Shareholder and Joint Venture Group (SJVG) received a report from the Head of Financial Services which provided an overview of the implications to the City Council to be considered alongside the report on the agenda.

The SJVG discussed the report in private session.

The Shareholder and Joint Venture Group noted the contents of the report.

59.

Minutes of the previous meeting [part private] pdf icon PDF 317 KB

Recommendation: to approve the public and private minutes of the Shareholder and Joint Venture Group meeting on 21 June 2023 (OX Place and BOLLP) and 27 July 2023 (OXWED LLP) as a true and correct record.

Additional documents:

Minutes:

The Shareholder and Joint Venture Group received the public and private minutes of the meetings held on 21 June 2023 and 27 July 2023, and approved these as a true and accurate record.