Agenda and minutes

Sutton Shareholdings Board
Monday, 16th November, 2015 6.30 pm

Venue: Civic Offices, St Nicholas Way, Sutton SM1 1EA

Contact: Alexa Coates, Committee and Management Services Support Manager  Tel: 020 8770 5094 | Email:  alexa.coates@sutton.gov.uk

Items
No. Item

9.

Apologies for absence

Minutes:

There were no apologies for absence.

10.

Declarations of Interest

Minutes:

There were no declarations of interest.

11.

Any Items the Chair deems urgent

Minutes:

There were no items the chair deemed urgent.

12.

Minutes pdf icon PDF 62 KB

To confirm as a correct record the minutes of the meeting held on 4 August 2015.

Minutes:

The minutes of the meeting held on 4 August 2015 were approved as a correct record and signed by the Chair.

13.

SDEN - Governance Update pdf icon PDF 183 KB

This report presents for approval the key legal and business documents needed to establish Sutton Decentralised Energy Network (SDEN) Ltd, including the appointment of company directors.

Additional documents:

Minutes:

Amanda Cherrington, Head of Economic Renewal and Regeneration, introduced the report which set out the key legal and business documents required to establish the Sutton Decentralised Energy Network (SDEN). Members highlighted a typo on page 14, para 11.2.3 of Appendix A which officers noted for correction.

 

(Note Cllr Garratt abstained on the votes in relation to resolutions 2 and 3)

 

Resolved

 

1.    That the Memorandum and Articles of Association and the Shareholders Agreement,as attached in Appendices A and B to the report, be agreed so that SDEN can be established and commence trading.

 

2.    That the appointment of SDEN company directors Simon Woodward (Managing Director) Amanda Cherrington (Director) and LYNDSEY Gamble (Director) be approved.

 

3.    That the SDEN business plan, as attached in Appendix C to the report,  be approved, so that once established, the Company can commence operations in line with this plan.

 

4.    That authority to agree financing arrangements be delegated to the Strategic Director (Resources) for those investments and contracts post Phase 1 delivery that are below the reserved matters threshold and therefore not subject to agreement by the Sub-Committee (i.e. below £5m total lifetime contract or capital costs below £1m).

 

14.

SDEN Operational Policies pdf icon PDF 162 KB

This report presents for approval the initial operational policies for SDEN, specifically the pricing policy, debt recovery policy, connection charge policy and disaster recovery plan, so that, once established the Company can commence operations in line with these policies.

 

Additional documents:

Minutes:

Amanda Cherrington, Head of Economic Renewal and Regeneration, introduced the report which set out proposed operational policies for SDEN, including: pricing policy, debt recovering policy, connect charge policy and disaster recovery plan. Members requested that where there were any mention of industry good practice in the operational policies these specifically referenced Heat Trust standards.

 

(Note Cllr Garratt abstained from the vote)

 

Resolved

 

1.    That the SDEN pricing policy, as attached in Appendix A to the report, be approved.

 

2.    That the SDEN debt recovery policy, as attached in Appendix A to the report, be approved.

 

3.    That the SDEN connection charge policy, as attached in Appendix A to the report, be approved.

 

4.    That the SDEN disaster recovery plan, as attached in Appendix A to the report, be approved.

 

 

 

 

 

 

15.

Sutton living sales policy pdf icon PDF 154 KB

This report presents for approval the sales policy for homes developed by Sutton Living, including both open market sale and shared ownership products.

Additional documents:

Minutes:

Mark Baigent, Interim Programme Director, presented a report outlining the proposed sales policy for Sutton Living. Members discussed the impact of the Housing and Planning Bill particulary in terms of right to buy. Officers stated that if any policies need to be reviewed as a result of government regulations this would come back to the sub-committee to consider, but legal advice suggested that Sutton Living would not be affected.

 

(Note Cllr Garratt abstained from the vote)

 

Resolved

 

That the Sutton Living sales policy document set out at Appendix A to the report be approved, so that the Company can operate in line with this policy.

 

16.

Exclusion of the Public and Press

The following motion should be moved, seconded and approved if the committee wishes to exclude the press and public to deal with reports revealing exempt information:

 

“That the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 3 of Schedule 12A of the Local Government Act 1972.”

 

Minutes:

Resolved

 

That the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 3 of Schedule 12A of the Local Government Act 1972.

17.

Sutton Living Performance report and risk register pdf icon PDF 153 KB

This report presents the current risk register for Sutton Living.

Additional documents:

Minutes:

The committee considered the risk register in closed session, the comments are set out in the exempt minute.

 

Resolved

 

That the risk register as set out in the exempt Appendix A to the report be noted.

 

18.

Opportunity Sutton Ltd Sub Committee Workplan pdf icon PDF 89 KB

Minutes:

The chair indicated that the committee were in open session for this item. Members of the committee noted the workplan.