Issue - meetings

Joint report of the Corporate Directors (Housing and Communities) and (Resources, Environment and Cultural Services) submitting the Plan for approval.

The Now Housing Limited Business Plan 2019-25 was approved.

Joint report of the Corporate Directors (Housing and Communities) and (Resources, Environment and Cultural Services) submitting the Plan for approval.

(1)        The Decision Taken

RESOLVED:

That the Now Housing Limited Business Plan 2019-25 be approved.

(2)        Reasons for the Decision

The Business Plan set out how Now Housing would deliver more homes for local people to meet identified need for an intermediate housing product, not currently being provided.  This would complement the Council’s Housing Revenue Account affordable homes programme and help to achieve its corporate objectives to contribute to the successful implementation of the related Council strategies for Housing, Homelessness and Rough Sleeping and Housing Delivery.

The overall business plan target was 372 homes over the life of the plan and this would require investment of £77M, based on the assumptions set out in the plan.  The funding would be borrowed from the Council, with the benefit of generating income to the Council’s General Fund as a result.

In producing the business plan the Council had consulted with experts in the housing law and finance fields and this included identifying the associated risks and putting in place controls to mitigate them.

(Note:  The Corporate Director (Housing and Communities) declared an interest in this item – Minute 51 refers).