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AGREED: That cabinet
noted the report and:
i)
Agreed that:
- Local authority
members form a consortium outside of FHIL, so it
collectively retains
control over the loan scheme funds.
- An FCA regulated
provider is procured to undertake loan
administration
services for the consortium.
- FHIL is wound down
once the net assets have been transferred with
appropriate
safeguards.
ii) Delegated to the
Assistant Director for Housing and Public Protection:
- the oversight of
associated workstreams required to implement the above
recommendation as the host authority of FHIL, and
- the authority to
agree any binding contracts on behalf of RBWM.