NEGC creates sub companies for each individual garden community

On 13th December 2016 - Essex Cabinet Meeting recorded in the minutes the following:

Report title: Participation in the North Essex Garden Communities Project - Give governance and decision on the principle of funding

Read key points and editors notes below.

 

Page 3: West of Braintree Limited

  • 2.13 Endorse the formation of West of Braintree Limited by North Essex Garden Communities Limited in accordance with the terms set out in the report and Appendix 8.
  • 2.14 To approve the West of Braintree Limited shareholder agreement between the Local Authorities in accordance with the terms set out in the report and Appendix 9.
  • 2.15 Agree that the Chief Executive may from time to time decide the identity of the Council’s appointee as a Director on the Board of West of Braintree Limited.
  • 2.16 That in principle it agrees to provide an appropriate proportion of necessary funding to the West of Braintree Limited (by an appropriate combination of loan or equity) subject to a satisfactory business case setting out the full terms of the arrangement. The latter will need to accord with the approved Business Plans and masterplans for the project and the funding options available at the time any funding is required by the LDV.

WoB Library Editors notes:

WoB Ltd (Company no: 10319844) Incorporated 9th Aug 2016 - Is it possible to put up the articles of association online?

For WOB Ltd - there are currently 2 directors Mark Steven (Essex County Council) and Jon Hayden (BDC). With Dentons being the Company Secretary.

For WoB Ltd - changed their quorum number from 3 to 2 people(!!) and number of directors only 2 people.

Articles of Association - Land Area as defined in their articles of association (as not being a purple haze or a blob but ...'property as illustrated in the local plan being approximately 1100 ha of agricultural land laying west of Braintree ...'

P5 & P6 - all about the conflict of interests.