To consider the submitted report on a review of the Council’s Investment Fund Strategy.

The Committee considered a revised report, circulated at the meeting, which set out a review of the Council’s Investment Fund Strategy following a request by the Committee for the Director of Corporate Services and Operations to review the strategy to include oversight of all projects and consideration of regeneration investment opportunities.  The report set out a high level strategy in respect of the Investment Fund.

Resolved:

(i)         that the Elected Mayor and Council be recommended to approve the high level Investment and Regeneration Fund Strategy set out at Appendix 1 to the revised report circulated at the meeting, subject to the changes made at the meeting;

(ii)        that the Director of Corporate Services and Operations, in consultation with the Elected Mayor, Head of Finance and Chairman of the Investment Committee, be given delegated authority to approve the Investment and Regeneration Fund Strategy Operational Policy (this document will not form part of the Council’s Policy Framework as it is an operational policy); and

(iii)       that Council be recommended that the Investment Committee be renamed to Investment and Regeneration Committee.

(Note:  Councillor O’Dwyer left the meeting after this item.)