Agenda and draft minutes

Place & Prosperity Investment Board - Tuesday, 26th March, 2024 5.30 pm

Venue: The Axe Room, Blackdown House, Heathpark Industrial Estate, Honiton

Contact: Andrew Melhuish Email: andrew.melhuish@eastdevon.gov.uk

Items
No.	Item
1.	Apologies Minutes: None.
2.	Declarations of Interest Minutes: None.
3.	Confidential/Exempt Items To agree any items to be dealt with after the public (including the press) have been excluded. Minutes: RESOLVED to exclude the Press and Public from the meeting during consideration of Agenda Item 4 (Property acquisition opportunity) by virtue of paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 as it contains information relating to the financial or business affairs of any particular person (including the authority holding that information)
4.	Property Acquisition Opportunity View the declarations of interest for item 4. View the reasons why item 4. is restricted View the background to item 4. View the decision for item 4. Minutes: The Board considered a report setting out details of an assessment of the property located in Exmouth as a potential acquisition in accordance with the Place and Prosperity Investment Framework. Members noted that there were three categories used to invest under the Place and Prosperity Fund: · Service delivery · Economic regeneration · Preventative action. Officers confirmed that the assessment that had been carried out concluded that the property did not present value as an investment and it was an unsuitable acquisition for the Council. The Board discussed the proposal concluded that the acquisition did not meet the requirements of the Place and Prosperity Fund and not to proceed with the proposed acquisition. The Board unanimously RESOLVED to not proceed with the investment acquisition for the property in Exmouth as it did not present value as an investment for the Council.