Issue - meetings

The report presents the First Wave Housing Ltd (i4B) Business Plan 2019/20 to Cabinet for Shareholder approval.

NOTED the additional comments from Akintoye Durowoju representing the FWH Board and Councillor Johnson in relation to the report.

RESOLVED that Cabinet approve, on behalf of the Council as guarantor, the First Wave Housing Business Plan as set out in Appendix 1 of the report.

The Leader of the Council, Councillor Muhammed Butt, welcomed Akintoye Dorowju (First Wave Housing Board Member) to the meeting and invited him to introduce the report setting out the First Wave Housing Ltd (FWH) Business Plan 2020/21, for Guarantor approval.

In presenting the report, Akintoye Dorowju advised that the company had considered relevant contextual factors, its performance and financial position in order to refine their strategic priorities for 2020/21.  These priorities would be  focussed on increasing the affordability of the capital investment programme; the disposal of assets in regeneration zones and the purchase of new build developments from the Council and market.

In considering the recommendations detailed in the report, the Cabinet noted that Appendix 1 of the FWH Business Plan had been classified as not for publication on the basis it contained the following category of exempt information as specified under paragraph 3, Part 1 of Schedule 12A of the Local Government Act 1972, namely “Information relating to the financial or business affairs of any particular person (including the authority holding that information)".

Having noted the general issues highlighted in response to the additional comments from Councillor Johnson when considering the i4B Business Plan, Cabinet RESOLVED to approve, on behalf of the Council as Guarantor, the First Wave Housing Business Plan as set out in Appendix 1 of the report.