Apologies for absence were received from Councillor Terry (no substitute).

The following declarations of interest were made:

A Richards – Agenda Item 8 (PSP Update) – Council representative appointed to the PSP Southend LLP.

Minutes attached

Resolved:-

That the Minutes of the Meeting held on Monday, 21 March 2022, be received and confirmed as a correct record.

Report of Executive Director (Finance and Resources) to follow

The Board considered a report of the Executive Director (Finance and Resources) presenting the Annual Report and financial statements of the Airport Business Park Management Ltd (ABPML) for year ended 30 June 2021, together with the report of their auditors.

The Board asked questions which were responded to by officers and representative from ABPML.

Resolved:

That the Annual Report and financial statements of Airport Business Park Management Ltd (ABPML) for the year ended 30 June 2021, together with the report of the auditors which were submitted to Companies House on 23 March 2022, be noted.

2.  That the recommendations to appoint directors to ABPML and the transfer of the freehold interest in the roads and common parts, and that this will be actioned bpursuant to the delegation to the Executive Director (Finance and Resources) as set out in Part 3, Schedule 3 paragraph 4.4 of the Constitution, be noted.

Report of Executive Director (Finance and Resources) attached

The Board considered a report of the Executive Director (Finance and Resources) advising that Public Sector Plc (PSP) will become part of Chartway Group and the implications for the Council in the context of its 50:50 joint venture relationship with PSP (PSP Southend LLP).

The Board asked questions which were responded to by the officers.

Resolved:

That the submitted report be noted.  No decisions are required by Shareholder Board.  The Council does not have any say or influence over this matter, although it is clearly a matter of interest as it concerns the business of the Council’s joint venture Partner, but  not the PSP Southend LLP Partnership itself.

Report of Executive Director (Finance and Resources) attached

The Board considered a report of the Executive Director (Finance and Resources) presenting a future work programme for the Board.

The Board asked questions regarding the status of the Porters Place Southend LLP Business Plan with a view that an update on the matter should come forward before October 2022.  The Board also asked officers to review the work programme to ensure a balanced number of items to each of the future meetings.  The Chair undertook to include an update on Porters Place Southend LLP and review the content of the agenda for 12^th October 2022.

Resolved:

That the future work programme, subject to review by officers, be approved.

Resolved:

That, under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the items of business set out below, on the grounds that they would involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A to the Act and that the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Report of Executive Director (Finance and Resources) to follow

The Board considered a confidential report of the Executive Director (Neighbourhoods and Environment) support to explore a change to the structure, and therefore the ownership and control arrangements of Vecteo, pursuant to the recommendation of Special People Scrutiny Committee held on 20 April 2022 (Minute 907 refers).

The Board asked questions which were responded to by officers.

Resolved:

1.  That the options to secure the remaining 51% share ownership from LHCS, thereby becoming the sole shareholder of Vecteo, be explored.

2. That, with immediate effect, officers formally commence discussions and negotiations with LHCS.

3. That the outcome of these negotiations be reported back to a future Cabinet meeting and if a successful resolution can be achieved than a new company board be appointed by the Council to ensure that service quality is consistently delivered, the previous ambitions for this project reviewed and financial sustainability is prioritised.