A.5/20
A report was considered in
light of the following Executive recommendation being made at its
meeting held on 18 June 2020 (Minute E.89/19 refers):
‘That the
Audit Committee Work Plan be updated to ensure that the Risk
Management elements of the Ivybridge Regeneration project be
considered at a future meeting.’
In debate, the following points
were raised:-
(a)
Officers confirmed that the Risk Register for the
project continued to evolve and, in the event of any significant
changes being made, an updated version would be circulated to
Members;
(b)
In light of Members wishing to consider the exempt
appendices, it was PROPOSED and SECONDED and on being put to the vote declared CARRIED that:
‘In accordance with Section 100(A)(4) of the Local
Government Act 1972, the public and press be excluded from the
meeting during consideration of the following item of business as
the likely disclosure of exempt information as defined in paragraph
3 of Schedule 12A to the Act is involved.’
Having been informed that the next gateway decision on the
project was due to be made at the Council Meeting to be held on 24
September 2020, some Members proceeded to express the view that the
Council should wait for the full impact of the COVID-19 Pandemic to
be realised.
Contrasting views were also expressed with regard to the
principal of repaying 50% of the Debt over a 50 year
term. As a result, the Committee
requested that:
‘The Business Case also takes into account the
principal of paying back 100% of the Capital Debt over a 50 year
term.’
Once the Committee was content that it had no further questions
and issues to raise that related to the exempt appendices, it was
then PROPOSED and SECONDED and on
being put to the vote declared CARRIED
that:
‘The public and press be re-admitted to the
meeting.’
It
was then:
RESOLVED
That the Committee has considered the Risk Management elements of
the Ivybridge Regeneration project and specifically requests that
the Business Case also takes into account the principal of paying
back 100% of the Capital Debt over a 50 year term.