Cabinet received a report the purpose of which was to seek approval to enter into a strategic partnership with Empower Community Management LLP (EC), a social enterprise that will, as its primary purpose, deliver the installation of solar PV on residential properties in the city and deliver a community benefit scheme to Peterborough.
This would be the first scheme of its type in the UK and in particular, the first of its kind that involves a Council.
The report made a number of recommendations, including a recommendation to Council.
Cabinet considered the report and RESOLVED to approve:
1. That Council enters into a strategic partnership agreement with Empower Community Management LLP to enable a first project to deliver solar PV on private residential properties in Peterborough.
2. That the Council enters into a shareholder agreement to become an equal partner in a Community Interest Company with Empower Community Management LLP.
3. That the initial target area be the Green Deal Community Fund area set out in section 4.6 of the report.
4. An intention to roll out the solar PV project from the initial target area to the remainder of the city.
5. That, subject to:
a) Council approving the amendment to the treasury management strategy below; and
b) Finalisation of the issues set out at 9.1.7 below to the satisfaction of the Executive Director, Resources;
the Council enters into a finance agreement with the Special Purpose Vehicle (SPV).
6. That Council enters into such further agreements with the Community Interest Company, the Special Purpose Vehicle (SPV) and any other body necessary to facilitate the terms of the strategic partnership agreement and solar PV project set out in this report.
7. That Cabinet delegates to the Executive Director, Resources and Director of Governance the ability to finalise any individual matters.
Cabinet also made the following recommendation to Council:
8. Approval of an amendment to the existing treasury management strategy to enable a Special Partnership Vehicle (SPV) between Empower Community Management LLP and Empower Community Foundation to be added to the list of external bodies that the Council is able to undertake capital investment in.
Decision type: Key
Reason Key: Significantly affecting two or more electoral wards;
Decision status: Recommendations Approved
Notice of proposed decision first published: 14/11/2014
Decision due: 15 Dec 2014 by Cabinet
Lead member: Leader of the Council and Cabinet Member for Growth, Strategic Planning, Housing, Economic Development and Business Engagement
Lead director: Acting Corporate Director Resources
Relevant internal and external stakeholders.
Relevant Scrutiny Committee: Sustainable Growth and Environment Capital
Meeting Open to Public: N/A