Issue - meetings

To consider recommendations of the Cabinet in respect of:

·         Welland Homes Business Plan Update incorporating Bentley Court - To present to the Council, as sole shareholder for Welland Homes Ltd, an updated Welland Homes Business Plan and a proposal from the company to purchase five houses for the purposes of market rental investment at Bentley Court, Spalding. To put in place the necessary arrangements to enable the company to move into contract on the proposed acquisition, subject to the necessary shareholder approvals (Cabinet minute 20/19) (Cabinet agenda item 10).

Please note that the appendices associated with this report are not for publication by virtue of Paragraph 3 (Information relating to the financial or business affairs of any particular person (including the authority holding that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)) in Part 1 of Schedule 12A of the Local Government Act 1972, and are therefore attached to this agenda as item 18.

Consideration was given to the report of the Cabinet which sought approval for the Cabinet’s recommendations:

Welland Homes Business Plan Update incorporating Bentley Court – To present to the Council, as shareholder for Welland Homes Ltd, an updated Welland Homes Business Plan (Cabinet minute 20/19) (Cabinet agenda item 10)

The Portfolio Holder - Housing and Health introduced an updated Welland Homes Business Plan and a proposal from the company to purchase five houses for the purposes of market rental investment at Bentley Court, Spalding. 

The Portfolio Holder stated that this was to put in place the necessary arrangements to enable the company to move into contract on the proposed acquisition, subject to the necessary shareholder approval.

DECISION:

1.    That the updated Welland Homes Business Plan be approved, and included as an amendment in the SHDC quarterly finance report to members for quarter 1 2019/20.

2.    That the delegated authority granted by Council on 25^th March 2015, to the Executive Director of Commercialisation (S151 Officer) be reaffirmed, to approve the final mix of use of reserves and borrowing in line with the business plan and Council Treasury Management Strategy.