Decision details

The Cabinet will be asked to approve the following Business Plans of the Council’s commercial entities:

- Barking and Dagenham Reside Business Plan 2021-2024;

- Barking and Dagenham Trading Partnership Business Plan 2021-2024; and

- B&D Energy 2021-2024.

Cabinet resolved to:

(i)  Approve the BDTP Business Plan 2021-26 at Appendix A to the report, subject to the conditions set out below; and:

(ii)  Authorise the Council’s Managing Director, in consultation with the Shareholder Panel, to:

(a)  Approve the outcome of the Service Improvement Plan, including the approval of any contractual variations required as a result of that programme;

(b)  Approve the request for the Council to issue up to £5m for working capital loan and agree all loan documentation or any documentation required to approve the utilisation of funds from the realisation of profit at LEUK, subject to due diligence and ensuring there is no breach of subsidy;

(c)  Approve expenditure of £1.6m to remove any backlog repairs works and allocate the remainder of the £3.5m business improvement investment;

(d)  Take all necessary action to enable BDTP to carry out its proposals as set out within the Business Plan, except those reserved by these recommendations, and to agree any variations to the business plan.