Agenda item

A.  CONTRACT WITH CHILDREN’S SERVICES ORGANISATION FOR THE DELIVERY OF CHILDREN’S SOCIAL CARE SERVICES

It was moved by Councillor Anderson,

Seconded by Councillor Hussain,

“That the Council approves the increase in the current Children’s Services base budget for the period 2015/2016 from £21.8 million to £24.4 million.”

The recommendation was put to the vote and carried unanimously.

Resolved  -   That the Council approves the increase in the current Children’s Services base budget for the period 2015/2016 from £21.8 million to £24.4 million.

B.  LOCAL AUTHORITY PARTNERSHIP PURCHASE (LAPP)

It was moved by Councillor Anderson,

Seconded by Councillor Swindlehurst,

“That the Capital Programme be adjusted to provide for the adoption of LAPP in accordance with the outline provided within the report, and the following parameters:

•  The maximum local authority purchased (rented) share of £120k

•  The split between the two shares of 70% purchased via mortgage and 30% purchased by LA

•  The maximum limit for the total indemnity to be offered of £4.4m

•  The maximum loan size (based on maximum property valuation) of £266k

•  The qualifying post codes in a schedule to the indemnity deed to cover all in SBC area

•  Based on these parameters, a maximum investment of £9.3m (£13.7m total costs including repayment interest) would be required (plus a further £4.4m indemnity guaranteed by way of a deed) to provide approximately 100 mortgages via the scheme.

The recommendations were put to the vote and carried unanimously.

Resolved –That the Capital Programme be adjusted to provide for the adoption of LAPP in accordance with the outline provided within the report, and the following parameters:

·  The maximum local authority purchased (rented) share of £120k

·  The split between the two shares of 70% purchased via mortgage and 30% purchased by LA

·  The maximum limit for the total indemnity to be offered of £4.4m

·  The maximum loan size (based on maximum property valuation) of £266k

·   The qualifying post codes in a schedule to the indemnity deed to cover all in SBC area

·  Based on these parameters, a maximum investment of £9.3m (£13.7m total costs including repayment interest) would be required (plus a further £4.4m indemnity guaranteed by way of a deed) to provide approximately 100 mortgages via the scheme.

C.    PROPOSED STRATEGIC ACQUISITION STRATEGY

It was moved by Councillor Anderson,

Seconded by Councillor Swindlehurst,

“That –

(a)  The introduction of the proposed Strategic Acquisition Strategy and associated procedure to enhance the ability for the Council to compete for investment opportunities within commercial timescales be approved.

(b)  To accelerate regeneration objectives, realise local economic development outcomes and provide long-term strategic benefits, it be agreed that all strategic acquisitions should normally be made within the Borough of Slough.

(c)  The Council’s Financial Regulations be amended to enable the acquisition of assets by Cabinet up to £25m (inclusive of acquisition costs) and give authority for the capital programme to be amended as required.

(d)  The Strategic Director for Regeneration, Housing and Resources be given delegated authority, following consultation with the Commissioner for Neighbourhoods and Renewals and the Leader of the Council, authority to introduce the proposed Strategic Acquisition Board (“SAB”).

(e)  Delegated authority be given to the SAB to make strategic acquisitions in line with the objectives, criteria and governance procedures set out in this report following consultation with the with the Commissioner for Neighbourhoods and Renewals and the Leader of the Council.

(f)  It be noted that in the event that Strategic acquisitions exceed £25m per annum, flexibility is introduced to provide authority to make a bid subject to Council approval.

(g)  A balanced investment portfolio be created in line with set criteria, generating an independent income stream alleviating some of the pressure enforced by central government funding cuts.”

The recommendation was put to the vote and carried unanimously.

Resolved – That:

(a)  The introduction of the proposed Strategic Acquisition Strategy and associated procedure to enhance the ability for the Council to compete for investment opportunities within commercial timescales be approved.

(b)  To accelerate regeneration objectives, realise local economic development outcomes and provide long-term strategic benefits, it be agreed that all strategic acquisitions should normally be made within the Borough of Slough.

(c)  The Council’s Financial Regulations be amended to enable the acquisition of assets by Cabinet up to £25m (inclusive of acquisition costs) and give authority for the capital programme to be amended as required.

(d)  The Strategic Director for Regeneration, Housing and Resources be given delegated authority, following consultation with the Commissioner for Neighbourhoods and Renewals and the Leader of the Council, authority to introduce the proposed Strategic Acquisition Board (“SAB”).

(e)  Delegated authority be given to the SAB to make strategic acquisitions in line with the objectives, criteria and governance procedures set out in this report following consultation with the with the Commissioner for Neighbourhoods and Renewals and the Leader of the Council.

(f)  It be noted that in the event that Strategic acquisitions exceed £25m per annum, flexibility is introduced to provide authority to make a bid subject to Council approval.

(g)  A balanced investment portfolio be created in line with set criteria, generating an independent income stream alleviating some of the pressure enforced by central government funding cuts.