Agenda item

This report provides Cabinet with a final draft of the First Wave Housing Ltd (FWH) 2026 – 27 Business Plan and revised Service Level Agreement with the Council.

Cabinet is asked to approve the Business Plan and Service Level Agreement on behalf of the Council as Guarantor of First Wave Housing

Having noted the introductory comments made by Andrew Hudson (as Chair of the i4B and First Wave Housing (FWH) Ltd Boards) under the previous item, Cabinet RESOLVED:

(1)    To approve the 2026-27 First Wave Housing Ltd Business Plan and financial model as Guarantor of the Company.

(2)    To approvethe 2026-27 Service Level Agreement between First Wave Housing Ltd and the Council.

(3)    To delegate authority for the Corporate Director of Finance and Resources to agree the terms for the enforcement of key performance indicators in relevant SLAs to allow the FWH Board to implement.

Eligible for call-in: Yes

Deadline for submission of call-in: 6pm on Monday 16 March 2026

Councillor Donnelly Jackson (as Cabinet Member for Housing) then moved on to introduce the report, providing Cabinet with the final draft of the First Wave Housing Ltd (FWH) 2026-27 Business Plan along with details of the revised Service Level Agreement with the Council for consideration and approval on behalf of the Guarantor.

In presenting the report, Cabinet once again were advised of the key role played by First Wave Housing in Bent’s approach towards tackling the housing crisis, given the significant portfolio of homes managed across the borough which provided safe, secure, stable and affordable accommodation for residents and their families.  Whilst recognising the challenging context in which the company continued to operate, with sustained homelessness pressures and increasing demand for affordable housing across London and in Brent, the Business Plan and updated Service Level Agreement were welcomed as a means of ensuring the company remained able to continue fulfilling its role in a well governed, financially sustainable way focused on delivering high standards of housing management and positive outcomes for residents.  Support was also expressed for the way in which organisations such as First Wave Housing were able to ensure the Council was able to retain and manage housing assets providing long-term affordable homes for residents, while helping to reduce reliance on the private rented sector with specific reference also made to the support being provided through FWH towards the provision of Supported Exempt Accommodation, which was also welcomed as a means of delivering positive outcomes for Brent residents.

The Board were thanked for their work and support in this respect given the wider challenges outlined and positive impact for those families in housing need being offered accommodation as a result especially those with children & young people, care experienced young people and residents in supported living arrangements (now being made available through Support Exempt Accommodation).  The Business Plan and work of both companies was also welcomed from a regeneration and planning perspective, given the importance in ensuring a strong supply of well managed and genuinely affordable homes was maintained in supporting inclusive growth and successful regeneration across the borough with i4B and FWH recognised as forming part of that wider ecosystem.

Having noted the introductory comments made by Andrew Hudson (as Chair of the i4B and First Wave Housing (FWH) Ltd Boards) under the previous item including the focus of FWH Ltd (working with the Council) in seeking to maximise opportunities identified through its status as a Registered Provider in contributing towards the supply of affordable housing across the borough, Cabinet RESOLVED having also noted the current performance and strategic priorities outlined in relation to FWH along with the exempt information contained within the appendices of the report:

(1)    To approve the 2026-27 First Wave Housing Ltd Business Plan and financial model as Guarantor of the Company.

(2)    To approvethe 2026-27 Service Level Agreement between First Wave Housing Ltd and the Council.

(3)    To delegate authority for the Corporate Director of Finance and Resources to agree the terms for the enforcement of key performance indicators in relevant SLAs to allow the FWH Board to implement.