Decision details

Welland Homes - Update to Business Plan

Decision Maker: Cabinet, South Holland District Council

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Purpose:

To update the Welland Homes Business Plan, and to put in place financial arrangements to enable the company to make an investment into a residential property opportunity.

Decisions:

Consideration was given to the joint report of the Portfolio Holder Finance and the Executive Director Commercialisation (S151) which sought agreement to put in place financial arrangements to enable Welland Homes Limited to purchase residential property at London Road, Long Sutton and to update the Welland Homes Business Plan.

 

The London Road Financial Model and Scheme Evaluation (Appendix 1), Updated Welland Homes Limited Business Plan (Appendix 2) and Financial impact on the Council (Appendix 3) were attached as item 16 within the agenda, which was not for publication by virtue of Paragraph 3 (Information relating to the financial or business affairs of any particular person (including the authority holding that information)). Members did not discuss the content of the appendices within the meeting and it was not therefore necessary to consider this item in private session.

 

RECOMMENDED TO COUNCIL:

 

a)    That the Capital Programme, approved by Council on 22 February 2017, be amended to reflect the amended programme set out in paragraph 5.2 of the report; and

 

b)    That this amendment to the Welland Homes Interim Business Case be approved.

 

(Other options considered:

·         Do nothing – this would mean that the London Road scheme would not proceed which would limit the delivery of housing from Welland Homes under the existing business plan and leave the Company unable to deliver forecast returns.

Reasons for decision:

·         Completion of the London Road Scheme was a key element of the Welland Homes Business Plan.)

Wards Affected: (All Wards);

Contact: Matthew Hogan, Assistant Director - Strategic Growth and Development Email: Matthew.Hogan@sholland.gov.uk.

Report author: Matthew Hogan

Publication date: 25/07/2017

Date of decision: 25/07/2017

Decided at meeting: 25/07/2017 - Cabinet

Accompanying Documents: