Commercial Advisory Board – Terms of Reference 2023-24

Purpose

1.       To oversee and support the development of the LGA’s commercial strategy, including oversight of its two properties at 18 Smith Square and Layden House, and to advise the LGA Board on all aspects of the strategy.

Responsibilities

2.       To commission and review the development of business cases in relation to new commercial offerings.

3.       To keep under review the commercial practices of the organisation, to ensure that the commercial potential of existing LGA services is optimised.

4.       To identify and assess new opportunities to be taken forward as part of the LGA’s portfolio of commercial opportunities and make recommendations to the LGA Board.

5.       To track and assure the realisation of benefits from the LGA’s commercial plans.

6.       To seek to secure maximum value from the LGA’s equity in ventures, including GeoPlace, Local Partnerships and others.

7.       To oversee the major maintenance and commercial operation of 18 Smith Square and Layden House.

8.       To maintain oversight of the progress of the work with the UK Municipal Bonds Agency, with further reports to go to the LGA Board at key decision points.

9.       To lead and act as ambassadors for the cultural change necessary for a more commercially focused LGA.

10.   To present reports and recommendations to the LGA Board.

The membership detailed below has been appointed effective from 1 September 2023 through to the end of the 2023/24 meeting cycle on 31 July 2024.