URL: https://democracy.lbhf.gov.uk/ieDecisionDetails.aspx?ID=5052

Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: This report provides an update to Cabinet on the incorporation of a Housing Company, following its previous decision to approve an Outline Business Case for its establishment.

Content: 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    Agree that Appendices Two and Three, are not for publication on the basis that they contain information relating to the financial or business affairs of any particular person (including the authority holding that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.  

Date of Decision: November 10, 2025