Issue - meetings

To consider a report of the Innovation Lead.

Councillors received a report of the Innovation Lead, which presented the terms of reference for the Shareholder Committee for Dorset Innovation Park Ltd. A schedule of reserved matters would be drafted by officers in consultation with the Cabinet Member for Property & Assets and Economic Growth and would be available for the next meeting of the shareholder committee. This would also allow time for the company directors to be in post.

The shareholder committee considered the issues covered in the report and terms of reference, and points were noted in the following areas:

·       The timing for the production of the Shareholder Agreement was raised and it was noted that the agreement needed to be confirmed by the company once the substantive directors were in place and undertaking their roles

·       There would be a transition period as the company was built up with responsibilities passed over, over a number of months and linked to the appointment of a Managing Director and Non-Executive Directors

·       Dorset Council officer resource was in place to establish the company and work continued to progress the aims of the Innovation Park

·       Once in place, the company would produce key documents including a vision, business plan and budget. Key documents would be approved by the council as the shareholder and the strategic direction considered by the shareholder committee.

The shareholder committee received the terms of reference and supported the continued cooperation between the council and the Dorset Innovation Park Ltd.