Decision details

RECOMMENDED:

(a)        That the Residential Property Asset Investment Strategy attached to Report Item 11 to the Cabinet be approved;

(b)        That the proposed level of initial investment, as set out Report Item 11 to the Cabinet, be approved;

(c)        That the Chief Executive, the Executive Head Governance and Regulation, and the S151 Officer, in consultation with 2 Portfolio Holders determined by the Leader of the Council, be authorised to take all decisions in respect of the Strategy, including entering into all necessary contracts and agreements; the setting up of the Wholly Owned Company(and subsidiaries) and related costs, to implement the Residential Property Asset Investment Strategy as set out in Report Item 11 to the Cabinet; and

(d)        That the appointment of 2 Cabinet Members and 2 senior officers to the board of directors of the Wholly Owned Company, following its incorporation, be approved such individuals to be agreed by the Chief Executive in consultation with the Leader of the Council.