Issue - meetings

To seek authority to establish a Local Housing Company (LHC) to provide accommodation  for homeless households, households with learning disabilities and /or autism and care leavers.

RESOLVED that

1          The development of Local Housing Company (LHC) to procure accommodation to provide homes for homeless households , households with learning disabilities and/or autism and care leavers so as reduce Council expenditure on accommodation be agreed;

2          The Council provides financial support to the Company in the form of a short term loan as set out in the restricted report, as start-up funding be agreed;

3          The Council  provides loan finance to the company in the future of as set out in the restricted report, so that it can acquire properties, the loan to be repaid from the surplus income it generates be agreed;

4          The structure of the company will be as a company limited by shares, initially set up as a wholly owned subsidiary of the Council be agreed;

5          Minimum Council representation on the Board of the LHC will by the Executive member Adult social care , Health and housing, Executive member Transformation and finance, Chief executive , Borough Treasurer and Borough Solicitor be agreed.