Issue - meetings

This report provided an overview of the progress made against the approved MDC Business Plan as well as Key Performance Indicator (KPIs) targets.

The Company had submitted an update on the KPIs (contained within the Exempt Appendix 1 to the report) for consideration by the Sub Committee.

The Sub Committee were updated on project progress for the Strood Civic site, Mountbatten House, Upper Mount car park, Chatham Waterfront and Garrison Point.

MDC’s ability to be agile and adjust their strategy in response to the changing market was discussed and the Sub Committee were also updated on the grant funding that was being utilised to progress projects.

The Sub Committee queried whether direct lettings would be viable for MDC and were informed that this would be reliant on a critical mass. MDC were asked to produce a report for the next meeting detailing when they think this might be viable in future.

The Sub Committee requested an annual review of the MDC’s plans to ensure that the resources in place were adequate. MDC committed to bring a consolidated report to the next Sub Committee to provide an overview of progress for all schemes.

Reasons:

In order for the Company to fulfil its purpose, the Shareholder should monitor progress of its objectives against the Business Plan.