Agenda item

First Wave Housing Business Plan 2022-23

This report provides Cabinet with a final draft of the First Wave Housing Ltd (FWH) 2022/23 Business Plan for approval on behalf of the Guarantor.

Decision:

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

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

(2) To approve the content and proposed strategic priorities of the FWH 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 First Wave Housing (FWH) Ltd Board) to introduce the key themes in relation to the current performance, strategic priorities and Development Strategy of FWH as detailed within the company Business Plan which had been presented for consideration. In commenting on the Business Plan, Martin Smith provided a brief overview of FWH’s operational performance along with the progress made against the objectives within their 2021-22 Business Plan and key strategic priorities for 2022/23 which, as for i4B, remained focussed around delivering safe and sustainable homes; increasing the supply of affordable housing in the borough; running a viable business; and providing a consistently good housing service. Cabinet were advised that the Business Plan also included detailed on the proposals being developed to progress decarbonisation work across the stock owned by FWH and had also been adjusted to reflect the transfer of the Granville New Homes Blocks to the Housing Revenue Account (HRA) and i4B. In addition, members were advised that the focus of the Development Strategy referred to as part of the presentation of the i4B Business Plan would also apply in relation to FWH Ltd.

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 Guarantor, the FWH Ltd 2022-23 Business Plan. In considering the report Cabinet again highlighted their support for the contribution being made by FWH towards delivery of the Council’s Housing Strategy through the supply of safe, secure and sustainable affordable housing.

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: