Meeting documents

To approve as a correct record the Minutes of the meeting held on 11 September 2018.

RESOLVED –

That the minutes of the meeting held on 11 September 2018 be approved as a correct record.

For Members to consider the attached report.

Contact officer: Andrew Small 01296 585006

AVDC and the Akeman Partnership LLP (Akeman) set up AVE as a Limited Liability Partnership (LLP) in October 2009. AVE was created to manage, improve and develop AVDC’s commercial property portfolio. The Partnership was governed by a Partnership Board which contained three representatives from AVDC: currently Cllr Warren Whyte, Cllr Julie Ward and Teresa Lane (Assistant Director Commercial Property and Regeneration). The Board met on a regular basis to review progress against the original objectives and Business Plan and monitor performance of the appointed Asset Managers. Since AVE’s establishment, it had been agreed that the Business Plan would go through Scrutiny and Cabinet annually. The item was attended by Graham Cole, Philip Ingman and Ed Inder of Akeman Asset Management, and they discussed various elements of the Plan. Highlights included the occupied rate being almost 100% which had led to a gradual rates increase of around 25% over the last two years. The success of the Rabans Lane site was contrasted by the struggling retail market in Hale Leys. Boots had been retained and a new lease had been signed for the vacant Poundworld unit; the new leaseholder would open from February 2019.

A copy of the draft Business Plan covering the period 2019 – 2022 had been circulated as part of the confidential section of the Scrutiny agenda. Included in the report were appendices covering cash flows for AVE and Hale Leys. Members were provided a summary of key issues within the Business Plan which were split into various categories: Distributions, Asset management initiatives/developments, Occupancy levels and Key performance targets. The core aims from 1 April 2019 were also outlined.

The Committee were asked to note that in order to reflect any consequences of the AVE Business Plan in the 2019/20 AVDC budget setting, the timing of the report meant that the plan could only review performance of the 18/19 Business Plan for the period 1 April – 30 September 2018. A full review of the 2018/19 performance was expected to be reported to the 2019 Scrutiny and Cabinet meetings.

Members had questions on the Plan and the portfolio and were advised that:-

      i.        Various options were being considered for the vacant units in Hale Leys which included the possibility of ‘splitting’ two floored units and sectors beyond retail. The position of M&S continued to have a positive impact on the footfall of Hale Leys.

     ii.        The AVDC Masterplan for Exchange Street would only go so far in having a positive impact high street retail.

    iii.        AVE felt they had achieved many of the objectives that had been set when it was established nine years ago and gave examples to support this.

   iv.        Planned site sales were expected to go through subject to the planning process. Members then asked for more information about where funds would be spent following these disposals.

    v.        Positive working relationships had been cultivated with tenants which had helped with the lease renewal process. These relationships could also lead to payment plans being established  ...  view the full minutes text for item 2.

For Members to consider the attached report.

Contact officer: Claire Britton 01296 585471

In July 2018, the government published a policy document entitled Strengthened Local Enterprise Partnerships. The document set out the role and responsibilities of Local Enterprise Partnerships (LEPs) in driving local growth. It set out how government and LEPs would work together to strengthen leadership and capability, improve accountability and manage risk, and provide clarity on geography. The document set out a single mission: to promote productivity by delivering Local Industrial Strategies (LISs). Buckinghamshire Thames Valley Local Enterprise Partnership (BTVLEP) and South East Midlands Local Enterprise Partnership (SEMLEP) had been developing their LISs over recent months and these were informing the development of an overarching LIS for the Oxford - Milton Keynes - Cambridge corridor. The LEPs had agreed to develop their own response to the Industrial Strategy to a certain level by December 2018 which would be used to develop the wider corridor strategy by March 2019.

Ian Barham, Partnership Manager at BTVLEP and Hilary Chipping, Chief Executive at SEMLEP were both in attendance and provided Members with an overview of the content and progress of their respective LISs and how these were informing the development of the wider corridor LIS. Both presentations had levels of overlapping detail which was expected given that Aylesbury Vale was in both LEPs.

SEMLEP

Evidence gathered was being analysed for the LIS and a number of policy themes and propositions had emerged. The first one discussed was the SEMLEP area as the Connected Core of the Oxford-Cambridge Arc as the area had a number of world-class engineering assets, notably Racelogic’s VBOX and the Uniti One; the first electric-vehicle to be produced in the UK. Silverstone Park had the potential to become a digital manufacturing innovation centre. Land within SEMLEP was relatively affordable which meant that the area could become a key commercial part in the arc. To aid this, work was underway in developing the East-West transport links and facilitating talks between businesses and government. Future potential action included specific promotional marketing of the engineering and aerospace sectors, as well as the wider ‘cluster of clusters’, and supporting infrastructural enhancements in transport and broadband. Constraints on business growth in the area were also outlined; out of 2,353 businesses, 33% felt that a lack of skilled labour constrained their business. To address this, SEMLEP were working on their skills plan to improve the labour marketing and increase employer engagement with educators as part of the proposition of employer-led skills development. Potential action included closer working with MK University and the Bletchley Institute of Technology. A proposed Silverstone Sports Innovation Campus was estimated to create 455 new jobs and 250 apprenticeships within the engineering sector. Another theme was the need for improvements to core infrastructure: Energy, Transport and Digital. Along the arc, Aylesbury Vale, Daventry and South Northamptonshire had an above average lack of superfast broadband as well as lack of electricity capacity in the wider area.  Actions already underway included support for east-west links and first mile-last mile connectivity with potential actions identified as  ...  view the full minutes text for item 3.

To consider the future work programme. Meetings are scheduled as follows:-

15 January 2019:       Car Parking Strategy for Buckingham, Winslow & Wendover

26 March 2019:          Silverstone update

Members had expressed an interest in the following items coming to Committee:

• Enterprise Zones update
• How Market Towns are being supported across Aylesbury Vale
• Rupert Waters to speak at Committee regarding LEPs
• Industrial Strategy
• Member Tour of Westcott

The upcoming work programme for the next two meetings were discussed as were items that Members had expressed an interest in coming to Committee in future. Members were advised that the meeting in January was likely to be cancelled as the Car Parking item would be rescheduled for later in the year.

Members saw merit in receiving an update from the three Enterprise Zones and inviting Antony Sowden to speak at Committee in 2019. It was also agreed that Members can identify any other agenda items they would like to see on future agendas and these should be directed to democratic services in the first instance.

RESOLVED –

That the current work programme be noted.

The following matter is for consideration by Members "In Committee". It will therefore be necessary to

RESOLVE –

That under Section 100(A)(4) of the Local Government Act, 1972, the public be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in the Paragraph indicated in Part 1 of Schedule 12A of the Act.

Item No. 9 – AVE Business Plan 2019/2022

The public interest in maintaining the exemption outweighs the public interest in disclosing the information because the report contains information relating to the financial or business affairs of organisations (including the Authority holding that information) and disclosure of commercially sensitive information would prejudice negotiations for contracts and land disposals or transactions.

RESOLVED –

That under Section 100(A)(4) of the Local Government Act, 1972, the public be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in the Paragraph indicated in Part 1 of Schedule 12A of the Act.

For Members to consider the attached confidential information in relation to the AVE Business Plan 2019/2022.

Consideration was given to the confidential information in relation to discussions on the AVE Business Plan 2019/2022.