The Companies Governance Executive Committee met to discuss the Nottingham City Homes (NCH) business plan, the strategic review of InspiredSpaces, and receive an update on the Nottingham City Transport (NCT) business plan. The committee approved the recommendations set out in the exempt reports for both the NCH business plan and the strategic review of InspiredSpaces. Members also noted updates to the committee's terms of reference and work programme.

Nottingham City Homes Business Plan

The committee approved the recommendations outlined in the exempt report regarding the Nottingham City Homes (NCH) business plan for 2025-2028 (2029). Liz Cook, Chief Operating Officer for Nottingham City Homes, along with Andrew Berry and Devan Amby, also from NCH, delivered a presentation on the plan. It was noted that Nottingham City Council has charged NCH £8.3m for 'opportunity lost interest'. Further details of the discussion are available in the exempt minute.

Strategic Review of InspiredSpaces

The committee approved the recommendations detailed in the exempt report concerning the strategic review of InspiredSpaces. Andrew Spice, Director of Commercial and Procurement, presented the report. The reasons for the decisions and other options considered are set out in the exempt minute.

Nottingham City Transport Business Plan

Andrew Spice, Director of Commercial and Procurement, provided a verbal update on the strategic review progress of the Nottingham City Transport (NCT) business plan.

This followed a previous discussion at the committee meeting on 1 April 2025, where it was resolved that the NCT business plan should be adjusted to reflect the City Council's request for a £1.5m increase in the proposed dividend. Authority to review and approve an amended business plan was delegated to the Leader, Deputy Leader, and Corporate Director for Finance and Resources.

However, discussions have continued, including a key meeting on 10 July 2025 with the company, the Leader and the Deputy Leader, centring on the impact of the rise in the fare cap¹ from £2 to £3 on patronage. NCT believes that the fare cap rise will continue to have a material impact on its revenue, which may obstruct payment of the dividend.

As a result, the company's business plan has not yet been agreed. An external review is being commissioned to assure the authority that NCT is taking appropriate actions to meet the challenges posed by the fare cap rise and achieve the originally budgeted revenue, which would enable the dividend to be paid. This review will be carried out by an independent expert in the sector.

Other Business

• The committee noted the updated Terms of Reference for the committee.
• The committee noted the work programme.
• The minutes of the meeting held on 22 July 2025 were confirmed as a true record and signed by Councillor Ethan Radford, Chair of the Committee.