Councillor Brown sent apologies. Councillor Turner acted as chair in her absence.

None.

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.

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.

The Scrutiny Committee will meet on 4 November 2024. The following report is expected, together with any other recommendations from that meeting:

·       OX Place – OCH(I)L Recovery Plan

The SJVG received two reports from the Scrutiny Committee, which provided an overview of the recommendations from the Scrutiny Panel.

The SJVG discussed the report in private session. Councillor Miles, on behalf of Scrutiny Committee, responded to questions from the SJVG.

The SJVG noted the contents of the report.

The Head of Financial Services and Head of Law and Governance will submit commentary to the Shareholder and Joint Venture Group on reports to be considered.

Commentary from the Head of Law and Governance to follow.

The SJVG received a report from the Head of Financial Services which provided an overview on a number of distinct areas outlined within the report. The SJVG also received a report from the Head of Law and Governance, offering commentary on the reports relating to OX Place.

The SJVG discussed the reports in private session. 

The SJVG noted the contents of the report.

Report of: OXWED LLP

Summary and recommendations

Purpose of report: To provide an update to OCC Shareholder and Joint Venture Group.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

-       Note and comment upon the report.

The SJVG received a report providing an update from OXWED. The SJVG discussed and commented on the report in private session.

Kevin Minns, Managing Director of OXWED, joined the meeting for the discussion of this item.

Report of: OCH(D)L, OCH(I)L and OCHL Holding Company Chair and Managing Director

Summary and recommendations

Purpose of report: To provide the Shareholder with general market insights and to outline key strategic issues and thinking of the Board.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

-       Note and comment upon the progress accordingly.

The SJVG received a report to provide the Shareholder with OX Place’s Long Term Financial Plan (LTFP) for the period 2024/25 to 2033/34. The SJVG discussed and commented on the report in private session.

Report of: OCH(I)L Managing Director

Summary and recommendations

Purpose of report: This report relates to Oxford City Housing (Investment) Limited and its proposed recovery plan.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

1.    To discuss and agree to the recommendations of the report.

The SJVG received a report which related to Oxford City Housing (Investment) Limited and its proposed recovery plan. The SJVG discussed and commented on the report in private session.

Report of: OCH(D)L

Summary and recommendations

Purpose of report: This report aims to provide the Shareholder Joint Venture Group with an update of the status re Y/E accounts for 23/24 and an initial view of the estimated year-end outturn position for 24/25, as already reported to the OX Place Board, for the group’s development company OCH(D)L

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

1.    NOTE the proposed timetable for signing off the Year end accounts for y/e 23/24 for both OCH(D)L and OCH(I)L

2.    NOTE the estimated OCH(D)L year-end outturn position for 24/25 as detailed in this report and appendix.

3.    APPROVE Long term Finance plan, separate paper.

The SJVG received a report which aimed to provide the Shareholder Joint Venture Group with an update of the status re Y/E accounts for 23/24 and an initial view of the estimated year-end outturn position for 24/25, as already reported to the OX Place Board, for the group’s development company OCH(D)L. It also sought approval for the long-term financial plan. The SJVG discussed and commented on the report in private session.

Report of: OX Place Head of Development

Summary and recommendations

Purpose of report: To provide the Shareholder with an update on Development progress since the last report (June 2024) and outline the key risks and issues affecting the programme, including commentary on the performance against targets.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

1.    NOTE the contents of the report and provide any feedback.

The SJVG received a report to provide the Shareholder with an update on Development progress since the last report (June 2024) and outline the key risks and issues affecting the programme, including commentary on the performance against targets. The SJVG commented on and discussed the report in private session.

Report of: OCHL(Holding), OCH(D)L

Summary and recommendations

Purpose of report: To provide the Shareholder with OX Place’s Long Term Financial Plan (LTFP) for the period 2024/25 to 2033/34.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

1.    Provide commentary and feedback so the OX Place LTFP 2024/25 to 2033/34 can be approved.

The SJVG received a report provide the Shareholder with OX Place’s Long Term Financial Plan (LTFP) for the period 2024/25 to 2033/34. The SJVG discussed and commented on the report in private session.

Report of: OX Place Head of Development

Summary and recommendations

Purpose of report: To provide the Shareholder with OX Place’s Strategic Risk Register Summary.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

1.    To discuss and provide feedback on the report.

The SJVG received a report to provide the Shareholder with OX Place’s Strategic Risk Register Summary. The SJVG discussed and commented on the report in private session.

Report of: OCHL (Holding), OCH(D)L, OCH(I)L

Summary and recommendations

Purpose of report: To inform the Shareholder and Joint Venture Committee of the options available and current progress in establishing new Company Secretary services for the group of companies.

Recommendation(s): That the Shareholder and Joint Venture Group resolves to:

1.    Note the options and progress made in securing Company Secretary services for, Oxford City Housing Limited trading as, OX Place and provide any associated commentary or feedback.

2.    Approve the recommendation to progress with Option 3 for 6/12 months while evaluating the new Company Secretary appointed by ODS and reviewing the requirement for the appointment of directly employed legal support.

The SJVG received a report to inform the Shareholder and Joint Venture Committee of the options available and current progress in establishing new Company Secretary services for the group of companies. The SJVG discussed and commented on the report in private session.

Recommendation: to approve the public and private minutes of the Shareholder and Joint Venture Group meeting on 24 July 2024 as a true and correct record.

The public and private minutes of the Shareholder and Joint Venture Group meeting on 02 September 2024 were approved as a true and correct record.