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Issue - meetings
Income Generation
Meeting: 11/09/2017 - Cabinet (Item 31)
31 Income Generation Strategy PDF 137 KB
(Council Decision)
Additional documents:
- Income Generation Strategy, item 31 PDF 469 KB
- Appendix A - Investment Strategy, item 31 PDF 212 KB
- Appendix B - Change Management and Communication Plan, item 31 PDF 351 KB
- Appendix C - Business planning process, item 31 PDF 162 KB
- Appendix D - Business planning canvas, item 31 PDF 466 KB
Minutes:
The Director of Operational Services and Income Generation Manager presented a report on the council’s draft income generation strategy.
The council needed to generate additional income in the future to offset reductions in its funding and maintain services. The draft strategy provided an overarching framework for these activities and set out the parameters for the delivery of this work.
The strategy set out three key themes for investment; investment in commercial property, investment in residential property and energy generation. Supporting strategies had been developed for investment in residential and commercial property, and a further strategy for energy generation would follow. An ethical investment policy was also under development.
The income generation strategy included a communications plan to raise awareness of the programme amongst staff, councillors and the wider community. The strategy also described how new ideas for income generation and efficiencies would be brought forward and assessed.
Cabinet thanked all those who had been involved in developing the strategy.
Councillor Chowney proposed approval of the recommendations to the Director of Operational Services report, which was seconded by Councillor Poole.
RESOLVED (by 6 votes for to 2 against, with 0 abstentions) that:
1. Cabinet endorse the approach of the Income Generation Board in bringing forward the Income Generation Strategy and adopts the Income Generation Strategy including its appendices;
2. Cabinet consider the thematic reports around commercial property investment and establishing a Hastings Housing Company that represent important early steps in implementing the income generation strategy;
3. Cabinet agree the next steps moving the strategy forward; and
4. Cabinet recommend the strategy to Full Council
The reason for this decision was:
The council needs to generate additional income to offset reductions in its funding and maintain services, the income generation strategy provides a framework for these activities.
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