Issue - meetings

This item includes appendices that contain exempt information. Discussion of the appendices will require passing the proposed resolution at the end of the agenda to exclude members of the public and press.

That Cabinet:

1.    Agree that Appendices Two and Three, are not for publication on the basis that they contain information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).

2.    Approve the decision to establish and incorporate a wholly-owned Housing Company.

3.    Note the existing delegations (approved within the Cabinet Report at Appendix One) that permit the Executive Director of Finance and Corporate Services in consultation with the Cabinet Member for Finance and Reform and the Director of Legal Services to carry out the necessary functions to implement Recommendation 2.

4.    Note the strategic direction of the Company’s Draft Business Plan (as summarised in exempt Appendix Two) that its Board will consider once operational.

5.    Approve the provision of a loan facility, up to the amount specified in exempt Appendix Two, to the Company for its use as working capital in order to finance its operations and to refurbish three void properties and other investment opportunities that may arise.

6.    Delegate authority to the Cabinet Member for Finance and Reform, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to agree the final terms of and to implement the loan facility.

7.    Delegate authority to the Cabinet Member for Finance and Reform, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to authorise the transfer of underutilised assets to the Company.

8.    Delegate authority to the Executive Director of Finance and Corporate Services and the Executive Director of Place to, acting on behalf of the council, negotiate, agree and enter into Service Level Agreements with the Company on behalf of services within their remit(s) to support the operations of the Company.

9.    Note that Officers will provide regular progress updates and briefings to Cabinet and Cabinet Members, including an annual update report to Cabinet.

Councillor Rowan Ree (Cabinet Member for Finance and Reform) introduced the report that provided an update on the process of establishing a wholly-owned Housing Company. He highlighted the Company’s ambition to refurbish a number of void council-owned blocks and explore the potential to acquire additional homes. Three disused blocks had been identified and, upon completion, these blocks would deliver the first seven new homes. Indicative modelling suggested the Company could be capable of delivering up to 30 homes in its first year.

Councillor Stephen Cowan (Leader of the Council) said it was one on many measures the Council was taking to tackle the housing crisis. He noted that the Council was building more new homes than other local authorities and bringing old buildings back into use to provide good quality homes for residents.

RESOLVED

That Cabinet:

1.    Agreed that Appendices Two and Three, are not for publication on the basis that they contain information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).

2.    Approved the decision to establish and incorporate a wholly-owned Housing Company.

3.    Noted the existing delegations (approved within the Cabinet Report at Appendix One) that permit the Executive Director of Finance and Corporate Services in consultation with the Cabinet Member for Finance and Reform and the Director of Legal Services to carry out the necessary functions to implement Recommendation 2.

4.    Noted the strategic direction of the Company’s Draft Business Plan (as summarised in exempt Appendix Two) that its Board will consider once operational.

5.    Approved the provision of a loan facility, up to the amount specified in exempt Appendix Two, to the Company for its use as working capital in order to finance its operations and to refurbish three void properties and other investment opportunities that may arise.

6.    Delegated authority to the Cabinet Member for Finance and Reform, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to agree the final terms of and to implement the loan facility.

7.    Delegated authority to the Cabinet Member for Finance and Reform, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to authorise the transfer of underutilised assets to the Company.

8.    Delegated authority to the Executive Director of Finance and Corporate Services and the Executive Director of Place to, acting on behalf of the council, negotiate, agree and enter into Service Level Agreements with the Company on behalf of services within their remit(s) to support the operations of the Company.

9.    Noted that Officers will provide regular progress updates and briefings to Cabinet and Cabinet Members, including an annual update report to Cabinet.