Purpose

Cabinet will be asked to approve arrangements
for the establishment of a joint venture company to let properties
leased through the Chalkhill venture.

Decision

Report:  Establishment of a
Company to Manage Leased Properties

Presented by:  Cllr Natasha
Summers, Cabinet Member for Housing Need

 
Cabinet:
 
2.          
Approved the establishment of a wholly owned
company to manage private sector leased housing (the SPV).

 
3.          
Agreed that in the event that the establishment of
a wholly owned company by LBH to manage private sector leased
housing (the SPV) does not proceed approval to establish a joint
venture with an appropriate entity that meets all our
requirements.

 
4.          
Delegated to the Director of Living Well, in
consultation with the Monitoring Officer and the Lead Member for
Housing Need, the establishment and form of the SPV.
 
5.          
Delegated to the Director of Living Well, in
consultation with the Strategic Director of Resources, the
Monitoring Officer and the Lead Member for Housing Need the final
forms of the following agreements:
 
5.1      
SPV Portfolio Agreement
5.2      
SPV Underleases
5.3      
SPV Management Agreement
5.4      
Assured Shorthold Tenancy Agreement
5.5      
Nominations Agreement
5.6      
Deficit Funding Agreement
 
Each of these agreements are more particularly
described in Section 7 of this report.