Agenda item

Purpose of report

·       to update the committee with progress made by Ravelin Housing Limited (RHL) against their current Business Plan.

·       to seek approval of the company's new business plans. Noting the ambition of the company and the need for future growth and investment to support the aspiration.

·       this paper builds on previous Cabinet and Full Council decisions taken in February 2019.

RECOMMENDED that the Cabinet Sub-Committee

1)    approves the new five-year Business Plan and Investment & Development plan as set out in this report, attached at Appendix 1 and 2.

2)    notes the progress made on the existing projects, Brewery House conversion and Arundel Street sites, as recorded in the five-year business plan.

3)    delegates to the Director of Regeneration, in consultation with the s151 Officer and Monitoring Officer, the authority to approve on behalf of the Council as shareholder, in accordance with the RHL Shareholder Agreement, any matter concerning RHL;

"Forming any subsidiary or acquiring shares in any other company or participating in any partnership or incorporated joint venture vehicle"

provided that it is in line with the Business Plan approved at 1) above.

4)    notes that the sites listed in the development pipeline speak to the aspiration of RHL and that they are not currently in the company's ownership.

5)    notes the content of the skills matrix at Appendix 3 and endorses the appointment of Non-Executive Directors (NED's) to Ravelin Housing Limited based on the outcome of the skills assessment contained in the skills matrix.

6)    notes the need to appoint to permanent positions within RHL, as noted in the Business Plan and that this would be the subject of a future report, seeking approval to proceed.

DECISIONS - the Cabinet Sub-Committee

1) Approved the new five-year Business Plan and Investment & Development plan as set out in this report, attached at Appendix 1 and 2.

2) Noted the progress made on the existing projects, Brewery House conversion and Arundel Street sites, as recorded in the five-year business plan.

3) Delegated to the Director of Regeneration, in consultation with the s151 Officer and Monitoring Officer, the authority to approve on behalf of the Council as shareholder, in accordance with the RHL Shareholder Agreement, any matter concerning RHL; "Forming any subsidiary or acquiring shares in any other company or participating in any partnership or incorporated joint venture vehicle" provided that it is in line with the Business Plan approved at 1) above.

4) Noted that the sites listed in the development pipeline speak to the aspiration of RHL and that they are not currently in the company's ownership.

5) Noted the content of the Skills Matrix at Appendix 3 and endorses the appointment of Non-Executive Directors (NED's) to Ravelin Housing Limited based on the outcome of the skills assessment contained in the skills matrix.

6) Noted the need to appoint to permanent positions within RHL, as noted in the Business Plan and that this would be the subject of a future report, seeking approval to proceed.

Tristan Samuels, Director of Regeneration, introduced the report and informed members that Tom Southall and Wayne Layton, Directors of Ravelin Housing Limited, were present to answer questions. 

Councillor Ben Dowling noted that there was a confidential appendix to the report.  Members of the Sub-Committee agreed that it would not be necessary to refer to this in detail and that it would not therefore be necessary to exclude the press and public from the meeting.

Members commented that future staff and non-executive directors of Ravelin Housing Limited should however be aware of the social values of the council.

Following questions, the Directors provided the following information:

·       Ravelin Housing Limited aims to interfere with the housing market and deliver multi tenure housing models by identifying unmet demand which is separate from the role of the HRA which is to deliver social housing.

·       Expertise and partnership working, including with housing associations will be explored to support a small team of company employees.

·       Ravelin Housing Limited uses Homes England's definition of 'affordable housing' and RHL aims to deliver at least 30% affordable housing across its portfolio.

·       The social responsibility section in the business plan includes information on sustainability, green credentials, and the company's aim to work towards carbon net zero goal. 

Tristan Samuels informed members that Ravelin Housing Limited will work with the HRA but is designed to sit alongside it in the provision of housing in the city.  The company has policies to support key workers and those unable to get onto the housing waiting list or on the waiting list but unlikely to qualify for housing in anytime soon.  Councillor Ben Dowling noted that business plans for the company would be subject to oversight and scrutiny of full Cabinet in the future.

DECISIONS - Cabinet Sub-Committee:

1)    Approved the new five-year Business Plan and Investment & Development plan as set out in this report, attached at Appendix 1 and 2.

2)    Noted the progress made on the existing projects, Brewery House conversion and Arundel Street sites, as recorded in the five-year business plan.

3)    Delegated to the Director of Regeneration, in consultation with the s151 Officer and Monitoring Officer, the authority to approve on behalf of the Council as shareholder, in accordance with the Ravelin Housing Limited Shareholder Agreement, any matter concerning Ravelin Housing Limited; "Forming any subsidiary or acquiring shares in any other company or participating in any partnership or incorporated joint venture vehicle" provided that it is in line with the Business Plan approved at 1) above.

4)    Noted that the sites listed in the development pipeline speak to the aspiration of Ravelin Housing Limited and that they are not currently in the company's ownership.

5)    Noted the content of the Skills Matrix at Appendix 3 and endorses the appointment of Non-Executive Directors (NED's) to Ravelin Housing Limited based on the outcome of the skills assessment contained in the skills matrix.

6)    Noted the need to appoint to permanent positions within Ravelin Housing Limited, as noted in the Business Plan and that this would be the subject of a future report, seeking approval to proceed.