Agenda for Local Delivery Vehicle Cabinet Committee on Thursday, 18th December, 2008, 2.00pm
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Agenda, decisions and draft minutes
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Procedural Business
(b) Exclusion of Press and Public - To consider whether, in view of the nature of the business to be transacted, or the nature of the proceedings, the press and public should be excluded from the meeting when any of the following items are under consideration.
NOTE: Any item appearing in Part 2 of the Agenda states in its heading the category under which the information disclosed in the report is exempt from disclosure and therefore not available to the public.
A list and description of the exempt categories is available for public inspection at Brighton and Hove Town Halls. Minutes: 1a Declarations of Interests
1a.1 There were none.
1b Exclusion of Press and Public
1b.1 In accordance with section 100A(4) of the Local Government Act 1972, it was considered whether the press and public should be excluded from the meeting during the consideration of any items contained in the agenda, having regard to the nature of the business to be transacted and the nature of the proceedings and the likelihood as to whether, if members of the press and public were present, there would be disclosure to them of confidential or exempt information as defined in section 100I (1) of the said Act.
1b.2 RESOLVED - That the press and public be excluded from the meeting during consideration of items 10 onward. |
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Cabinet Member's Communications Minutes: 2.1 There were none. |
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Petitions No petitions received by date of publication. Minutes: 3.1 There were none. |
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Public Questions (The closing date for receipt of public questions is 12 noon on 11 December 2008)
No public questions received by date of publication. Minutes: 4.1 There were none. |
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Deputations (The closing date for receipt of deputations is 12 noon on 11 December 2008)
No deputations received by date of publication. Minutes: 5.1 There were none. |
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Letters from Councillors No letters have been received. Minutes: 6.1 There were none. |
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Written Questions from Councillors No written questions have been received. Minutes: 7.1 There were none. |
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Notices of Motions No Notices of Motion have been referred. Minutes: 8.1 There were none. |
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Local Delivery Vehicle - Update Report of the Director of Adult Social Care & Housing (to follow) Decision: That the Cabinet Committee:
(1) Notes the attached update report from the PricewaterhouseCoopers (PwC), financial advisors to the LDV project.
(2) Agrees, in light of the PwC update report, to allow an extension to the project timing in relation to funding determination to allow more time for discussions with the banks that have shown an interest.
Minutes: 9.1 The Cabinet Committee considered a report of the Director of Adult Social Care & Housing that updated them on the work undertaken to determine the funding options for the housing Local Delivery Vehicle. This was in accordance with the Cabinet decision of 24 September 2008 approving the setting up of a Housing LDV (for copy see minute book).
9.2 The Cabinet Member for Housing informed Members that the Board had decided to name the Housing LDV ‘Brighton and Hove Seaside Community Homes Limited’ and that April was still the intended inception date.
9.3 The following responses were given to questions from the Opposition Spokesperson:
§ The Cabinet Member for Housing explained that the information contained in the Part 2 report was commercially sensitive and therefore needed to remain confidential.
§ The Head of Housing Strategy & Development confirmed that approaches for funding were first made in September of the current year.
§ The Cabinet Member for Housing stated that she was confident that good offers would be forthcoming particularly as the banks were being given more time to respond.
§ The Director of Adult Social Care & Housing explained the PricewaterhouseCoopers (PwC) have confirmed that no additional cost will be incurred as a result of the delay in finding funding. She added that she would write to the Opposition Spokesperson regarding fees paid to PwC to date.
§ The Chairman stated that the council was committed to investing in the housing stock and meeting tenant expectations irrespective of the economic conditions.
9.4 RESOLVED – That the Cabinet Committee:
(1) Notes the attached update report from the PricewaterhouseCoopers (PwC), financial advisors to the LDV project.
(2) Agrees, in light of the PwC update report, to allow an extension to the project timing in relation to funding determination to allow more time for discussions with the banks that have shown an interest.
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PART TWO |
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Housing Local Delivery Vehicle - Update
Report of the Director of Adult Social Care & Housing
(Report to follow - to be circulated to Members Only)
[Exempt Paragraphs 3 & 5] Decision: That the Cabinet Committee:
(1) Notes the attached update report from the PricewaterhouseCoopers (PwC), financial advisors to the LDV project.
(2) Agrees, in light of the PwC update report, to allow an extension to the project timing in relation to funding determination to allow more time for discussions with the banks that have shown an interest.
Minutes: NOTE:There was no Part 2 report relating to this item. The exempt item was an appendix to Item 9 on the agenda. |