Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: May 21, 2025

Purpose: The updated business plan for WV Living 2025-2030, including an update on the geographic area of operation for WV Living as The Greater Birmingham and Black Country Housing Market Area

Content: 1.      That the updated business plan for WV Living 2025-2030 be approved.   2.      That authority be delegated to the Cabinet Member for City Housing and the Cabinet Member for Resources, in consultation with the Chief Operating Officer and the Deputy Director of Finance to approve detailed loan agreements, amendments to any loan agreements and the execution of any loan agreements or other financial instruments between the Council and WV Living.   3.      That the Council would continue to act as guarantor for contracts entered into by WV Living where appropriate and that authority be delegated to the Cabinet Member for City Housing and the Cabinet Member for Resources, in consultation with the Chief Operating Officer and the Deputy Director of Finance to authorise any such guarantees.   4.      That authority be delegated to the Cabinet Member for City Housing and the Cabinet Member for Resources, in consultation with the Chief Operating Officer and the Deputy Director of Finance to approve the establishment of additional subsidiary management companies for future developments and the transfer of these management companies to homeowners upon completion of developments.   5.      That the geographic area of operation for WV Living be approved as The Greater Birmingham and Black Country Housing Market Area.   6.      That profits earned from developments outside Wolverhampton would be reinvested in less viable sites within the City of Wolverhampton and not be distributed as dividends.   7.      That in the light of the new Business Plan the Council confirms that it has confidence that WV Living is a going concern for at least the next 12 months.   8.      That it be noted, updates to the Business Plan for WV Living would be brought to Cabinet for approval on an annual basis.