Decision details

Cabinet considered the report and RESOLVED to:

1.    Approve in principle the funding mechanisms and processes discussed in this report for managing the investment of previously agreed funding into Medesham Homes LLP for the purposes of increasing the supply of housing, helping address the demand for accommodation created as a result of the increase in homelessness;

2.    In respect of the specific proposal in relation to Midland Road properties Cabinet delegated to the Corporate Director for Growth and Regeneration and the Service Director for Communities and Safety (in consultation with the Corporate Director of Resources and the Leader of the Council) the authority to approve funding of up to £4m to Medesham Homes LLP subject to the submission of an acceptable business case by Medesham Homes LLP through the process defined in this report;

3.    In respect of the specific proposal in relation to providing funding for Midland Road, Cabinet delegated to the Director of Law and Governance the authority to finalise and put in place any agreements and legal documentation necessary to give effect to these proposals, in consultation with the Corporate Director of Growth and Regeneration and the Corporate Director, Resources.

The Cabinet Report that established Medesham Homes specifically did not deal with the mechanisms and processes associated with investment into the joint venture; these were reserved for a future – indeed, this – paper.

Continuing to provide temporary accommodation at the current rates is not sustainable for the Council nor is it sustainable for homeless households. These proposals seek to enable the Council to take greater control over the provision of accommodation for homeless households.

Doing nothing – this option was discounted as the previous Cabinet Report that established Medesham Homes required funding mechanisms to be put forward through the Council’s governance.   These mechanisms and approach will also help reduce the continued use of temporary accommodation that, coupled with the continued increase in demand, is not sustainable.

Councillor Hiller declared that he sat on the Board of Medesham Homes and would not take part in the debate.

Council Medium Term Financial Strategy 2016/17