Decision details

The Executive considered a report in respect of the concept and Business Case objectives relating to the proposed formation of a wholly owned Housing Development Company.

The Leader asked officers to ensure that, when reported back to the Executive, the Business Plan identified:

·           how the lettings process for WOC properties would work (ie. an in-house or contracted out lettings agency);

·           the Governance arrangements for the WOC, including Member oversight; and

·           that appropriate arrangements were in place for robust scrutiny of the WOC’s operation.

The Assistant Director (Housing Development) advised that it was intended that the WOC Business Plan would be reported back to the 12 December 2018 meeting of the Executive, or at worst to the 23 January 2019 meeting.

It was RESOLVED:

1.            That the business case, as outlined in the report, be approved, and that the principle of establishing a Wholly Owned Housing Development Company (WOC), for the purposes detailed in the report, be supported.

2.            That a report be brought to a future Executive comprising a fully costed financial projection of the WOC’s operational activities and a Business Plan, prior to the WOC commencing trading.

Reason for Decision: As contained in report.

Other Options considered: As contained in report.