Decision details

To provide comments on the contents of the company's draft business plan to the company's Board of Directors.

This report presents an update on the council’s wholly owned housing company, Cambridge City Housing Company Limited (CCHC). The updated business plan for CCHC for the period 2022/23 – 2031/32 is attached. CCHC performed well over the past year in terms of letting its own stock, with low void levels, minimal arrears, and low levels of antisocial behaviour over the past year. The Annual General Meeting will be on 8 March 2023. Since Covid-19, CCHC leased 5 properties from the council to re-let to rough sleepers to help meet their needs, providing accommodation to help keep them safe and provide support. However, this model has proved to be unsuitable for this cohort and as tenancies are brought to an end, at the request of the council these leases are being collapsed prematurely.

Decision of the Executive Councillor for Finance, Resources and Transformation and Non-Statutory Deputy Leader:

·       Note the comments of the Strategy and Resources Scrutiny Committee on the draft business plan; and

·       To inform the board of directors of Cambridge City Housing Company of the comments of the Strategy & Resources Scrutiny Committee for consideration in finalising the Business Plan

Reason for the Decision

As set out in the Officer’s report.

Any Alternative Options Considered and Rejected

Not applicable.

Scrutiny Considerations

The Head of Finance introduced the report.

The Head of Finance said the following in response to Members’ questions:

       i.          Would enquire what happens to people whose leases were closed.

      ii.          Financial implications of bringing HRA leases to a premature close were that any losses that came from damage, failure to collect rent, leases themselves, the Council would bore the cost.

    iii.          The Council had a relatively small number of properties (23), they are managed by Townhall Lettings. They keep in touch with tenants and signpost to help when needed. By doing so they have been able to keep the voids quite low.

    iv.          Have not had a problem with large amount of void works.

     v.          Always keep loan under review.

The scrutiny committee approved the recommendations 7-0 (1 abstention)

The Executive Councillor for Finance, Resources and Transformation and Non-Statutory Deputy Leader approved the recommendations.

Conflicts of interest declared by the Executive Councillor (and any dispensation granted)

No conflicts of interest were declared by the Executive Councillor.