Purpose

Peterborough Investment Partnership LLP was established in 2014 as a vehicle to promote the development of key sites in Peterborough such as Fletton Quays, Northminster and Pleasure Fair Car Park.

The accounts for the LLP, and the consolidated accounts which include its two subsidiaries, have been reviewed by Peterborough City Council and now require authorisation for signing ahead of submission to Companies House by 26 June in order to comply with UK company law.

Both members, Peterborough City Council and Peterborough Partnership Limited,[IA2.1][TH2.2] are in agreement that the partnership has served its purpose and, pending the settlement of outstanding business, the partnership and its subsidiary companies will be wound up in due course. These ongoing discussions do not affect the requirement for Executive approval of the 2024/2025 accounts.

Decision

The Leader of the Council RESOLVED to authorise the Council’s Representatives of the Peterborough Investment Partnership LLP’s Partnership Board to approve and sign the 2024/25 Peterborough Investment Partnership LLP’s accounts.

Full details can be found in the report below.

With the approval of the Monitoring Officer and Chair of the Sustainable Future City Council Scrutiny Committee, the 3-day call-in period is waived, and the decision can be implemented immediately.