Exeter City Living Business Plan
To consider the report of the Director (DB)
Decision:
|
Agreed |
That Executive recommend to Council:-
(1) to obtain a loan of £5 million from the Public Works Loan Board and provide Exeter City Living with a loan of £5 million to fund the matters identified in the Exeter City Living Business Plan 2019/2020;
(2) to approve Exeter City Living proceeding with the activities as outlined and detailed in the Exeter City Living Business Plan 2019/2020. This includes the operational activities and development works identified;
(3) to note an Addendum Business Plan is likely to be issued during 2019/2020, which would consider the opportunities at other City Council sites which may become available following agreement of corporate priorities and public consultation.
|
|
Reason for Decision:
|
As set out in the report. |
Minutes:
The Director (DB) presented the report seeking approval to provide the loan identified in the Exeter City Living (ECL) Business Plan 2019/2020 for funding of business operations and development activity during the financial year 2019/2020.
Members highlighted the positive opportunity for joint work between ECL and the Housing Department in the year two Business Case.
In response to Members’ questions, the Director confirmed that there would be no net loss of Social rented units as outlined in the Year One Business Case and the Memorandum of Understanding and this would be addressed in the Vaughan Road scheme, dependent on the feasibility study. The Director (BA) clarified that there was no further information required from the Government on the implications of the lifting of the HRA Borrowing Cap.
RECOMMENDED to Council that:-
(1) Exeter City Council obtain a loan of £5 million from the Public Works Loan Board and provide Exeter City Living with a loan of £5 million to fund the matters identified in the Exeter City Living Business Plan 2019/2020;
(2) Exeter City Living proceed with the activities as outlined and detailed in the Exeter City Living Business Plan 2019/2020, including the operational activities and development works identified; and
(3) it be noted that an Addendum Business Plan is likely to be issued during 2019/2020, which would consider the opportunities at other City Council sites which may become available following agreement of corporate priorities and public consultation.