The Council, at its meeting held on 22 September 2016, has agreed the principle of setting up a new wholly owned development company to develop and own homes with the overarching aim of maximising income back to the Council and supports outcomes in the housing strategy.  The proposal outlines the necessary due diligence to explore the objectives listed in paragraph 2.5 to the submitted report and to recommend:

·       The appropriate company structure  and Governance arrangements;

·        Financial modelling and stress tests and flows to council; and

·        Benefits and risks.

That item 10 – Transformation Project – Housing Policy Framework be deferred from the Council meeting on 6 April 2017 and be presented to Council on 10 May 2017.

It has not been possible to circulate the papers for item 10 in sufficient time to enable Members proper consideration of this important Policy Framework document.

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This decision will come into force immediately.

At the Council meeting held on 23 February 2017, Members agreed (Minute 168 (v) refers):

“that the Housing Company Policy Framework document be presented to Council for consideration in April 2017, together with an outline business case.”

It has not been possible to publish these papers in time for this Council meeting and it is therefore proposed that this matter be deferred.

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