Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
That Cabinet:
A. Agreed the initial Business Plan attached at Appendix 1.
B Invited the Joint Chief Executive and the Commercial Finance Manager to be the Council’s two employee appointed Directors to the Board of the Hart Housing Property Management Company Ltd.
C Authorised the Head of Corporate Services, in consultation with the Portfolio Holder for Finance and the Portfolio Holder for Commercialisation, to appoint a suitable independent lay person who has knowledge and skills in property letting and management to the Board of Directors of the Hart Housing Property Management Company Ltd.
The Council agreed to set up a wholly owned Company limited by shares to hold and maintain residential assets procured by the Council. This report deals with the draft business case and seeks Cabinet’s approval.
Members were informed that the shareholder agreement could take on new residential properties in further regeneration projects. The Chairman wanted to confirm that we need to underpin our commercialisation strategy to find ways to generate income in ways that are appropriate and transparent.
DECISION
That Cabinet:
A. Agreed the initial Business Plan attached at Appendix 1.
B Invited the Joint Chief Executive and the Commercial Finance Manager to be the Council’s two employee appointed Directors to the Board of the Hart Housing Property Management Company Ltd.
C Authorised the Head of Corporate Services, in consultation with the Portfolio Holder for Finance and the Portfolio Holder for Commercialisation, to appoint a suitable independent lay person who has knowledge and skills in property letting and management to the Board of Directors of the Hart Housing Property Management Company Ltd.
The Joint Chief Executive returned at 7.14pm.
Publication date: 04/06/2021
Date of decision: 03/06/2021
Decided at meeting: 03/06/2021 - Cabinet
Effective from: 12/06/2021
Accompanying Documents: