Purpose

The Cabinet will receive the latest quarterly update report from the Shareholder Panel on progress by the Council-owned companies on delivering their businesses plans and other relevant issues, such as key risks, and will be asked to approve appropriate proposals.

Decision

Cabinet resolved to:

(i)  Note the key highlights and issues relating to Council-owned companies in the third quarter of 2025/26 and the ongoing scrutiny provided by the Shareholder Panel; and

(ii)  Delegate authority to the Strategic Director of Inclusive Growth and Place, in consultation with the Strategic Director of Resources and the Director of Law and Governance, to appoint an alternative contractor to complete the works at Roxwell Road and to increase the capital budget for the scheme as required, provided that the additional funding requirement does not materially impact on the viability of the scheme to the extent that it cannot be transferred to Reside and Barking and Dagenham Homes Ltd on completion.