Issue - decisions
1. That the creation of a housing company, limited by shares and wholly owned by the Council be approved, with the overarching aim of increasing housing supply in Central Bedfordshire be approved through:
· the development of sites owned by the Council; and
· the creation and, where appropriate, retention by the Company, of housing stock with a range of tenures that address gaps in the market not met by either the private sector or through development within the HRA.
2. That the proposed governance arrangements for the Company, as set out in paragraphs 44 to 47 in the report, be approved.
3. That the Director of Community Services be authorised, in consultation with the Council’s Chief Executive, Director of Resources, Monitoring Officer and a reference group consisting of the Leader, Deputy Leader and Executive Member for Corporate Resources, Executive Member for Adults, Social Care and Housing Operations and Executive Member for Assets and Housing Delivery to set up an appropriate company structure, including;
(a) commencement of the incorporation of the Company and selection of the name of the Company in order to do so.
(b) approval of the type of company, the articles of the company and the composition of the Board.
(c) appointment of the Directors and Company Secretary of the Company.
(d) approval of a Shareholders’ Agreement to be entered into between the Company and the Council.
(e) ensuring that the Company will hold appropriate insurances and/or benefit from the insurances that the Council holds.
4. That the Deputy Leader and Executive Member for Corporate Resources be authorised to take decisions on the exercise of shareholder powers in the Company.
5. That the Director of Resources be authorised, in consultation with the Deputy Leader and Executive Member for Corporate Resources, and in line with the Council’s Treasury Management Policy, to agree the terms of a £250,000 loan to be made by the Council to the Company to fund set up costs and provide initial working capital.
6. That the Director of Resources be authorised to determine prices, in agreement with the Company, for any services provided by the Council for the Company.