Decision Maker: Overview and Scrutiny Committee

Outcome: For Determination

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 18, 2025

Purpose:

Content: OVERVIEW AND SCRUTINY COMMITTEE   TUESDAY 18 FEBRUARY 2025   RESOLUTIONS   The following are the resolutions made by the Overview and Scrutiny Committee at the above meeting.   Please note that these are not the full minutes, which will be published at a later date.   Date of resolution: 18 February 2025   If you have any queries about any matters referred to in this notice, please contact: Artemis Kassi, Head of Scrutiny and Governance (artemis.kassi@newham.gov.uk).     Item 5: Call In of Cabinet Decision: Restoration and Regeneration of the Carpenters Estate: programme update   i)  That the decision by Cabinet on 4 February 2025 concerning the Restoration and Regeneration of the Carpenters Estate: programme update be referred back to Cabinet for reconsideration.   ii)  That the reasons for the referral to Cabinet be noted, as follows:   a)  independent financial review In light of the Cabinet decision on 4 February 2025 concerning the Restoration and Regeneration of the Carpenters Estate, and previous scrutiny recommendations regarding James Riley Point in March 2023, the Committee recommended that the Cabinet commission a comprehensive independent financial review of the Carpenters Estate restoration and regeneration project. This review should: •  analyse all potential financing strategies, including public-private partnership opportunities and full or partial estate sale options •  assess optimal tenure mix configurations to enhance project viability •  run concurrent with existing build phases to avoid delays •  identify opportunities to optimise value for money and reduce Council financial exposure (including, for example, sale or public/private partnership options for small parcels of land on the Carpenters Estate) •  present findings and updates to both Cabinet and the Overview and Scrutiny Committee on a quarterly or twice-yearly basis; b)  board composition of Populo The Committee considered that the Cabinet needed to commission a governance arrangements review and strengthen governance arrangements (including ensuring Companies House compliant documentation). The Committee further considered and recommended an increase in London Borough of Newham representation on the board of Populo, which is wholly-owned by Newham Council. The Committee recommended that the Populo board composition should include more Newham Council councillors (at least two councillors) and more officers (at the appropriate level); c)  internal audit The Committee considered overrunning of costs and recommended that an internal audit of procurement processes for Populo is required; and d)  comparison and alignment with Affordable Homes for Newham The Committee considered again that Populo is a company wholly owned by Newham Council and that it was therefore essential for there to be greater alignment of Populo with Affordable Homes for Newham. The Committee recommended that there should be comparison of rates of and return on investment between Populo and Affordable Homes for Newham, with Populo aligning with (or exceeding) investment rates and returns achieved by Affordable Homes for Newham.