Issue - meetings

Cabinet:

Recommended to Full Council the updated Investment Strategy attached at Appendix A which includes a range of investment indicators to comply with the Statutory Guidance on Local Government Investments and the governance arrangements that enable the Council to seek approval for priority investments in a timely manner in response to market conditions, subject to minor amendments by the Head of Finance, in consultation with the Lead Cabinet Member for Finance.

Cabinet received the Investment Strategy, Councillor John Williams, Lead Cabinet Member for Finance, introduced the report and commented on the updated strategy, including the regeneration projects being undertaken by the Council. Councillor John Williams also mentioned the updated figures for table 8.4.1 and 8.4.2, and noted these would be updated again before the report is published again in February 2022.

The Leader invited Councillor Grenville Chamberlain to introduce the comments from the Scrutiny and Overview Committee. Attention was drawn to the committee’s reservations about the conversion of underutilised office buildings into affordable homes.

Councillor John Williams responded that demand within the Greater Cambridge area for commercial buildings was still high, and there were no plans to convert office buildings into homes within the current strategy.

Councillor Anna Bradnam requested clarification as to whether the policy to convert office buildings into homes was still part of the Investment Strategy. The Head of Finance confirmed this had been removed.

Councillor Heather Williams asked if the figures in the published report relating to suitability would need to be updated ahead of the final Council decision.

The Head of Finance responded that the current report would need to be updated before the Council meeting in February 2022. The Leader of the Council also mentioned that any figures relating to sustainability within the district would be kept under review.

The Leader closed the discussion, and Cabinet:

Recommended to Full Council the updated Investment Strategy attached at Appendix A which includes a range of investment indicators to comply with the Statutory Guidance on Local Government Investments and the governance arrangements that enable the Council to seek approval for priority investments in a timely manner in response to market conditions, subject to minor amendments by the Head of Finance, in consultation with the Lead Cabinet Member for Finance.