Issue - meetings

To receive and consider the report of the Director (Early Intervention and Support). 

The Executive Leader, Councillor Alistair Bradley presented the confidential report of the Director (Early Intervention and Support).

Members noted the complexities of the wholly owned company and that other Local Authorities are also establishing companies. 

The Leader of the Opposition, Councillor Martin Boardman, queried how it was determined which assets would go into the company.  Councillor Peter Wilson advised that when an asset is owned purely for commercial reasons it needs to be held by a company.  It was suggested that a cross party working group be set up to consider the wholly owned company going forwards.  A query was raise in relation to whether the company will be limited by guarantee and this will be confirmed outside the meeting. 

The Executive Leader, Councillor Alistair Bradley proposed and the Deputy Leader, Councillor Peter Wilson seconded the Decision –

1.    To approve the proposal to establish a wholly owned company to hold and manage the assets identified in the business case.

2.    To grant delegated authority to the Head of Legal, Democratic and HR in consultation with the Statutory Finance Officer, to establish the company and associated governance documents subject to them reflecting the proposals in the business case.

3.    To appoint the following council officer posts (or their future replacement posts) to be directors of the company: Director (Commercial Services), Chief Legal Officer, Chief Finance Officer, Director (Policy and Governance).

4.    That the proposals in this paper replace those proposals to create a Housing Company as outlined in the report to Full Council in September 2018.  As a result, that the capital budget of £13.8m to deliver the housing company be removed from the capital programme.