4TH REPORT OF THE
Strategic
Priorities and Policy Committee
Special meeting held
on January 15, 2013, commencing at 3:32 PM, in the Council Chambers, Second
Floor, London City Hall.
PRESENT: Mayor J.F. Fontana (Chair),
Councillors B. Polhill, Councillor W.J. Armstrong, J.B. Swan, S. Orser, J.L.
Baechler, N. Branscombe, M. Brown, P. Hubert, D.G. Henderson, P. Van
Meerbergen, D.T. Brown, H.L. Usher, J.P. Bryant and S. White and L. Rowe
(Secretary).
ALSO PRESENT: A. Zuidema, J.P.
Barber, J. Braam, B. Campbell, B. Coxhead, H. Filger, J.M. Fleming, P. Foto, M.
Hayward, G. Kotsifas, L. Livingstone, S. MacDonald, V. McAlea Major, D.
Mounteer, M. Ribera, C. Saunders, V. Sharma, J. Smout, J. Stanford, and B.
Westlake-Power.
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1.
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That it BE NOTED that no pecuniary
interests were disclosed.
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Recommendation:
That the following actions be taken with respect to the proposed Joint
Venture Agreement between London Hydro Inc. and the London District Renewable
Energy Cooperative:
a)
the
attached proposed by-law (Appendix A) BE INTRODUCED at the Municipal
Council meeting to be held on January 15, 2013; it being noted that the
Civic Administration has not had sufficient time to engage in the standard
due diligence process for reviewing the Joint Venture Agreement (supplied
substantially in the form considered by the Board of London Hydro Inc.); it
being further noted that staff at London Hydro Inc. have been advised as to
the concerns raised and are prepared to address these concerns;
b)
the
Municipal Council BE PROVIDED with a timely update, including
financial details, on this initiative within the 120-day review period, in
order to satisfy itself with respect to this initiative;
it being pointed
out that the Strategic Priorities and Policy Committee received a
communication dated January 7, 2013 from P. Johnson, Chair, London Hydro Inc.
and heard verbal delegations from the Managing Director, Corporate Services and
City Treasurer/Chief Financial Officer, J. Smout, Solicitor II, D. Mounteer,
Solicitor II and V. Sharma, CEO, London Hydro Inc., with respect to this
matter.
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The meeting adjourned at 4:39 PM.
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