APPENDIX 2

Terms of Reference of the Members Advisory Panel relating to Property Investment

·         To consist of 6 members politically balanced (for 2012/13):

3 Conservatives, 2 Liberal Democrat, 1 Independent

·         To meet as necessary as proposals come forward

·         To consider specific business cases for potential property investment, analyse the risks and possible value and either reject, request more information or recommend to the Cabinet Committee that the proposals be brought forward for decision.

·         The panel must have specific regard to the Code of Practice published by the Chartered Institute of Public Finance and Accountancy (CIPFA) and the decision of Cabinet, relating to possible prudential borrowing agreed at its meeting on 25 July 2012. 

Terms of Reference of the Property Investment Cabinet Committee

• To comprise three cabinet members who must be present:-

        Leader of the Council

        Cabinet Member for Economic and Commercial Development

        Cabinet Member for Corporate Services

• Cabinet Members will be allowed to substitute

• To meet as necessary as proposals come forward

• To consider specific business cases for potential property investment and based on the view of the  members advisory panel make the appropriate decision

• The committee must have specific regard to the Code of Practice published by the Chartered Institute of Public Finance and Accountancy (CIPFA) and the decision of Cabinet, relating to the possible borrowing agreed at its meeting on 25 July 2012.