Cabinet will be asked to approve arrangements for the establishment of a joint venture company to let properties leased through the Chalkhill venture.

Cabinet:

2.           Approved the establishment of a wholly owned company to manage private sector leased housing (the SPV).

3.           Agreed that in the event that the establishment of a wholly owned company by LBH to manage private sector leased housing (the SPV) does not proceed approval to establish a joint venture with an appropriate entity that meets all our requirements.

4.           Delegated to the Director of Living Well, in consultation with the Monitoring Officer and the Lead Member for Housing Need, the establishment and form of the SPV.

5.           Delegated to the Director of Living Well, in consultation with the Strategic Director of Resources, the Monitoring Officer and the Lead Member for Housing Need the final forms of the following agreements:

5.1       SPV Portfolio Agreement

5.2       SPV Underleases

5.3       SPV Management Agreement

5.4       Assured Shorthold Tenancy Agreement

5.5       Nominations Agreement

5.6       Deficit Funding Agreement

Each of these agreements are more particularly described in Section 7 of this report.