To consider a report of the Deputy Chief Executive.

The Deputy Chief Executive submitted a report which set out the proposed approach to securing and developing investment opportunities to generate sustainable income streams to support the Council’s revenue budget. In discussion, a query was raised regarding the remuneration of the proposed specialist adviser; and support was expressed for using the Council’s resources in support of projects which would contribute to regeneration within the borough.

RESOLVED –

(1)        That the approach set out in the report be noted and approved.

(2)        That the intention to begin a tender exercise to secure an expert investment adviser be noted and approved. 

(3)        That the intention to explore the establishment of a Trafford Property Company and to secure the relevant expert advice be noted.

(4)        That it be noted that a further report would be brought back to the Executive, with an update on progress, and seeking approval for an investment strategy and appropriate vehicle.