Issue - meetings

Further to Minute 79 (23 January 2018), the Cabinet Member for Regeneration and Social Housing presented an update on the reinvigoration of Barking and Dagenham Reside Regeneration Limited (B&D Reside).

The housing portfolio managed by B&D Reside was expected to increase from the current level of circa 800 properties to approximately 4,000 properties over the next five years.  Since the January 2018 report, a review of the structure and Articles of B&D Reside had been undertaken and a new Board and Managing Director had been appointed.  A Shareholder Agreement had also been drafted and was appended to the report, setting out the business arrangements, obligations and relationship between the Council and B&D Reside.  In respect of the Council’s role on the Board of Directors, the Cabinet Member advised that the current wording in the draft document was to be revised to reflect that the Council, as Shareholder, would be entitled to nominate an observer (without voting rights) to the new Board.

Other work that was ongoing included the preparation of a business case for the creation of a Registered Provider and the associated requirements within the B&D Reside structure, the drafting of a commissioning mandate and the development of a medium-term business plan, which would also clarify the role of B&D Reside in the development process, alongside the Council and Be First.

The Cabinet resolved to:

(i)  Approve the Shareholder Agreement between the Council and Barking and Dagenham Reside Regeneration Limited as set out at Appendix A to the report, subject to the revision of clause 10.4 to reflect that the Council’s nominee to the new Board shall be in an observer-only capacity;

(ii)  Approve in principle the creation of a new Reside Registered Provider company/entity;

(iii)  Delegate authority to the Director of Inclusive Growth, in consultation with the Chief Operating Officer, the Director of Law and Governance and the Cabinet Member for Finance, Performance and Core Services, to prepare an options appraisal and business case for the most effective mechanism or form of Registered Provider(s) to deliver the Council’s objectives of increasing the supply of, access to and affordability of housing in the Borough;

(iv)  Agree that further work be undertaken, on the emergence of a preferred option and approval of a business case, to register any company/entity as Registered Provider(s) with the Regulator of Social Housing, and

(v)  Delegate authority to the Director of Law and Governance to prepare and execute any relevant articles of association, partnership agreements, loans or and any other relevant legal documents on behalf of the Council to implement the creation and registration of new Reside Registered Provider(s).