Edited extracts of minutes of the Finance Committee held on 27th November 2018.
City Boundary Signs
It was recommended to Full Council that the 4 existing City Boundary Signs be replaced and 5 new City Boundary Signs be installed at a cost of £2,988.40 (excluding VAT).
Market House Update
The Chairman introduced David Fanchi from Irwin Mitchell Solicitors. Mr Fanchi was asked to attend the meeting to advise members on the various matters raised by Orion Developments (Southern) Ltd in connection with the Market House.
The Committee considered the following options :
(i) The City Council sells the Freehold to Orion Developments (Southern) Ltd (ODS)
(ii) The City Council purchase ODS’s current lease
It was noted that ODS could sell the Lease to a third party; this would be a decision for them to take. Any new owner would have to agree to the Letting Strategy and other requirements.
It was proposed, seconded and resolved that Options (i) and (ii) were not supported by the Committee.
It was further resolved that Officers investigate all aspects of action required by the Council if the Lease is sold to a third party, including obtaining expert assistance with due diligence.
Discretionary Grant Budget
The Committee were
reminded that the Discretionary Grant Budget 2018/2019 was allocated, in full, at the July 2018 meeting of the Community Affairs Committee. The February 2019 meeting of the Committee that would customarily deal with the allocation of the unexpended balance had been cancelled and this had been displayed on the City Council’s website.
However, representation had been received from the Festival of Chichester expressing their disappointment that 2018/2019 budget had already been expended and that their Discretionary Grant application would not now be considered.
It was resolved that a meeting of the Community Affairs Committee be held on Monday 1 April 2019 (i.e., in the new financial year) to discussed Discretionary Grant Applications.
Recommended to Full Council that the City Council’s Budget for 2019/2020 be £782,530 resulting in a Precept Demand of £574,867 and a Band D Council Tax Payment of £52.48 (an increase of 5p per week); an overall increase of 5.47% increase on the Precept;