Agenda item

i4B Business Plan 2022-23

This report provides Cabinet with a final draft of the i4B Holdings Ltd (i4B) 2022/23 Business Plan for approval on behalf of the Shareholder.

Decision:

Having noted the introductory comments from Martin Smith (as Chair of the i4B Ltd Board) relating to the current performance, strategic priorities and Development Strategy of i4B, Cabinet RESOLVED:

(1) To approve the i4B 2022/23 Business Plan.

(2) To approve the content and proposed strategic priorities of the i4B 2022/23 Business Plan.

(3) To approve the updated financial model contained within the 2022/23 Business Plan.

(4) To approve the Housing Companies’ Development Strategy.

Minutes:

Prior to consideration of the main report Councillor Muhammed Butt (Leader of the Council) invited Martin Smith (as Chair of the i4B Holdings Ltd Board) to introduce the key themes in relation to the current performance, strategic priorities and Development Strategy of i4B as detailed within the company Business Plan presented for consideration. In commenting on the Business Plan, Martin Smith provided a brief overview of i4B’s operational performance highlighting the ongoing work to address the main issues identified in relation to voids and rent collection, along with the progress made against the objectives within the 2021-22 Business Plan and key strategic priorities for 2022/23. It was noted these remained focussed around increasing the supply of affordable housing in the borough; running a viable business; delivering safe and sustainable homes; and providing a consistently good housing service. Cabinet were advised that the delivery of these objectives remained on track with the Business Plan also having identified i4B now moving into surplus.

In addition, members were advised of the Development Strategy for i4B which had been prepared to support the company’s ongoing growth ambitions in relation to increasing the supply of affordable housing and in support of the Council’s wider Housing Strategy. Whilst continuing the programme of street property purchases the Development Strategy would also focus on the feasibility of setting up a new purchasing stream for adapted accommodation as well as larger family sized properties and new build market opportunities in different areas of the borough.

Having noted the introductory comments from Martin Smith, Councillor McLennan (Deputy Leader and Cabinet Member for Resources, Children’s Safeguarding, Early Help and Social Care) then introduced the report presenting, for approval on behalf of the Shareholder, the i4B Holdings Ltd 2022-23 Business Plan. In considering the report Cabinet expressed support for the contribution being made by i4B towards addressing housing need across the borough through the supply of safe, secure and sustainable affordable housing and for the focus within their ongoing Development Strategy in supporting delivery of the Council’s wider Housing Strategy.

Having noted that the current performance, strategic priorities and Development Strategy along with the exempt information contained within the appendices of the report, Cabinet RESOLVED: