Agenda and draft minutes

There were none.

The record of the meeting held on 24 November 2025 was agreed by the Sub Committee and signed by the Chairperson as correct.

Disclosable pecuniary interests

There were none.  

Other significant interests (OSIs)

There were none.

Other interests

There were none.

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

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 grant funding secured and progress with the Strood Civic site, Mountbatten House and Upper Mount Car Park.

The Sub Committee were informed of the positive uptake with the training programme that had been launched.

Members emphasised the importance of cohesive public realm and maintenance of spaces and MDC offered to share public realm plans for Chatham with Sub Committee Members.

The Sub Committee considered the Financial Overview summary as of Quarter 3 and updated Risk Registers (contained within Exempt Appendices 2 and 3 to the report) submitted by the Company.

Interest rates, the housing market and the importance of a shared ownership product were discussed. The Sub Committee were concerned about the saturation of the market and MDC explained that this was why the right mix of housing type and tenure type was so important.

The Members queried whether arrears were an issue for rented properties and were informed that an insurance policy and stringent due diligence checks were in place to minimise any risk.

The Sub Committee were informed of the publicity campaign that MDC were due to launch showcasing achievements in Chatham and were working in partnership with local businesses and officers to do so.

The Sub Committee recognised the importance of a cohesive masterplan for development in Chatham rather than a piecemeal approach alongside the Chathm Design Code and parking strategy. Officers agreed to explore the use of a workshop with MDC, Members and relevant partners to develop ideas and inform plans going forward.

Reasons:

In order for the Company to fulfil its purpose, the Shareholder should monitor progress of its objectives against the Business Plan. In order to fulfil its role as shareholder, on behalf of the Council, the Sub Committee must be appraised of the financial performance and position of the Company and regularly updated regarding the risks affecting the Company and its activity and action being undertaken to manage those risks.