This section allows you to view the general details of a Decision
Details
Title:
Driving Housing Growth through the expansion of InReach
Include item on Forward Plan/ Key Decision
Yes
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of Corporate Director of Economy
Implementation Date (not before meeting on)
Tue 25 Jul 2017
Purpose
To set out proposals for the expansion of the Council’s Wholly Owned Company (WOC) InReach which provides private rented housing to promote housing growth and contribute to the Council’s Budget Delivery Plan.
Key Portfolio
OLD - Jobs and Skills
Chief Officer Decision Maker
1 Diamond
Decision Outcome
On 25 July 2017, Cabinet:-
(i) Approved the Full Business case for the sale of approximately 200
void properties per year for the next 4 years held within the Housing
Revenue Account (HRA) to InReach (Birmingham) Ltd (InReach) or
another Wholly Owned Company (WOC) set up by the Council as
set out at report Appendix 1;
(ii) delegated authority to the Assistant Director of Property (Interim) to
negotiate and approve final terms of individual disposals to InReach;
(iii) delegated authority to the Corporate Director Economy jointly with the
Cabinet Member Housing and Homes to identify suitable properties
held within the HRA for sale to InReach (Birmingham) Limited or
some other Council WOC to give effect for every 2 properties being
acquired by InReach being replaced with 1 new build;
(iv) approved a loan to InReach (Birmingham) Limited of up to
£95million on commercial terms for the purpose of funding its
acquisition of these properties, with approval of the terms
delegated to the Chief Finance Officer;
(v) noted that the above decisions may be subject to the
consent of the Secretary of State as set out in
paragraph 4.3.2 of the report; and
(vi) authorised the City Solicitor to negotiate, execute and complete
all necessary documentation to give effect to the above
decisions.
THE DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY 31 JULY 2017.
Is the Decision Maker Aware of the Decision:
No
Is the Head of Services Aware of the Decision:
No
Is Decision County Wide:
No
Would the recommended decision be contrary to the budget and policy framework:
No
Additional Information
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
(OLD) Acocks Green; (OLD) Aston; (OLD) Bartley Green; (OLD) Billesley; (OLD) Bordesley Green; (OLD) Bournville; (OLD) Brandwood; (OLD) Edgbaston; (OLD) Erdington; (OLD) Hall Green; (OLD) Handsworth Wood; (OLD) Harborne; (OLD) Hodge Hill; (OLD) Kings Norton; (OLD) Kingstanding; (OLD) Ladywood; (OLD) Longbridge; (OLD) Lozells and East Handsworth; (OLD) Moseley and Kings Heath; (OLD) Nechells; (OLD) Northfield; (OLD) Oscott; (OLD) Perry Barr; (OLD) Quinton; (OLD) Selly Oak; (OLD) Shard End; (OLD) Sheldon; (OLD) Soho; (OLD) South Yardley; (OLD) Sparkbrook; (OLD) Springfield; (OLD) Stechford and Yardley North; (OLD) Stockland Green; (OLD) Sutton Four Oaks; (OLD) Sutton New Hall; (OLD) Sutton Trinity; (OLD) Sutton Vesey; (OLD) Tyburn; (OLD) Washwood Heath; (OLD) Weoley
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
Housing and Homes Overview and Scrutiny Committee May 16 - April 18
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This section displays the history of the Decision.
Decision History
| 23/02/2017 13:49:21 | Janet Hinks | Business Item Created | |
| 23/02/2017 13:49:21 | Janet Hinks | Committee Added | Cabinet |
| 23/02/2017 13:49:21 | Janet Hinks | Meeting Added | 18/04/2017 10:00AM |
| 23/02/2017 13:49:21 | Janet Hinks | OS Committee Added | Housing and Homes Overview and Scrutiny Committee |
| 23/02/2017 13:49:24 | Janet Hinks | Workflow Assigned | Workflow ID 61B6E366-38CC-4821-9725-792663FC06C4 |
| 23/02/2017 13:49:37 | | Status Changed | Decision Scheduled [1] |
| 23/02/2017 13:49:48 | Janet Hinks | Ward Added | Acocks Green |
| 23/02/2017 13:49:48 | Janet Hinks | Ward Added | Aston |
| 23/02/2017 13:49:48 | Janet Hinks | Ward Added | Bartley Green |
| 23/02/2017 13:49:48 | Janet Hinks | Ward Added | Billesley |
Approval/Comments
| Approve |
Janet Hinks
|
Thu 23 Feb 2017 - 01:49
|
Fri 31 Dec 9999
|
Thu 23 Feb 2017 - 01:49
|
Accepted
|
|