Decision details

To consider a report on the outcomes of the Options Appraisal following the Cabinet decisions taken in October 2013 and February 2014.

(a)  That officers establish a corporate working group to fully develop an outline business case for establishing a Subsidiary Housing Company (SHC), or other vehicle, to develop, acquire, manage and sell market and affordable cross tenure properties to assist in meeting local housing need.

(b)  That an ‘invest to save’ bid is approved to fund initial specialist, legal and financial advice up to a maximum of £50,000.

(c)  That a further report is brought to the July Cabinet meeting with an outline business case, including financial modelling and, if appropriate, indicative timescales for the launch of the company.