To receive any apologies for absence including any changes to the membership of the Committee.

Apologies were received from Councillor O’Dwyer.  It was noted that, in accordance with the wishes of the Conservative Group, the membership of the Committee had been amended for this meeting by including Councillor Bye instead of Councillor Tyerman.

To confirm as a correct record the Minutes of the meetings of this Committee held on 17 and 26 April and 14 May 2018.

The Minutes of the meetings of the Investment and Regeneration Committee held on 17 and 26 April and 14 May 2018 were confirmed as a correct record and signed by the Chairman.

To consider the submitted report on the draft Investment and Regeneration Fund Operational Policy.

Members considered a report that set out the draft Investment and Regeneration Fund Operational Policy.  Members expressed concern at a target for investments to make a minimum yield and requested a more flexible approach.

Resolved:

That a task and finish group be established to consider the draft Investment and Regeneration Fund Operational Policy and report their consideration and recommendations back to a future meeting.

To consider passing a resolution to exclude the press and public from the meeting prior to consideration of the following items on the agenda on the grounds that exempt information (as defined in Paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended) is likely to be disclosed.

Prior to consideration of the item in Minute 140 and 141 the press and public were formally excluded from the meeting on the grounds that the item involved the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 (as amended).

To consider potential investment opportunities.

As requested by the Investment and Regeneration Committee on 14 May 2018 further information was presented by Liam Montgomery, TDA, regarding Investment Opportunity 1.

Resolved:

That Investment Opportunity 1 no longer be pursued.

To receive an update on existing investments.

The Director of Corporate and Business Services provided a verbal update in respect of an investment presented to the Investment and Regeneration Committee on 25 July 2017 and other developments in Torbay.