Issue - meetings

Appendix 1 to the report is exempt from publication as it contains commercially confidential information (exempt under paragraph 3, Part 1, Schedule 12A of the Local Government Act 1972 (as amended)).

The Cabinet Member for Finance, Performance and Core Services presented the five-year rolling Business Plan of Be First, the Council-owned company launched on 1 October 2017 with the key objective of driving forward the delivery of the Council’s regeneration and place-making agenda.

The Cabinet Member advised that the Business Plan had been scrutinised and endorsed by Be First’s Board and the Council’s Shareholder Panel prior to being presented to Cabinet.  The Business Plan included a review of the last 12 months’ activities, the plans for the year ahead and the ongoing challenges relating to increased labour and materials costs associated with trading in a pandemic environment, Brexit, the situation in Ukraine, new fire safety regulations and inflationary and interest rate concerns. 

Despite those issues, the Cabinet Member advised that Be First expected to deliver 408 new homes in the Borough by the end of the current financial year and had made significant progress with a number of place-shaping projects, such as the new film studios, the relocation of London’s main food markets to the Borough and the development of the Borough Local Plan, which was now with the Planning Inspectorate for independent examination.  The Cabinet was also particularly pleased to learn that Be First had achieved a range of socio-economic outcomes during the year, which included:

-  140 new Barking and Dagenham jobs;

-  56 apprentices employed across sites;

-  244 work experience weeks delivered;

-  1,365 volunteering days; and

-  circa £68m invested locally in the supply chain.

The commitments in the Business Plan for 2022/23 included the delivery of a further 480 new homes, undertaking a business effectiveness review to ensure that the company was “fit for the future” and maximising opportunities that would enable Be First to achieve, and potentially exceed, the annual £10.3m target return to the Council.

Cabinet Members welcomed the Business Plan and praised the partnership arrangements between the Council and Be First.  The Chair also called on the Government to better support London local authorities with their regeneration proposals in the face of spiralling costs through enhanced subsidies.

Cabinet resolved to:

(i)  Approve the Be First Business Plan 2022-27, as set out at Appendix 1 to the report;

(ii)  Authorise the Finance Director, in consultation with and on the advice of the Investment Panel, to take all necessary action to enable Be First to carry out its proposals under the Business Plan and to agree any minor variations to the Business Plan subject to the conditions in these recommendations;

(iii)  Authorise Be First and/or the Finance Director to enter into any procurement related agreement or commitment, including procuring the new Development Framework, required to enable the delivery of the Business Plan, subject to compliance with Subsidy rules, the Public Contracts Regulations 2015 (or any replacement thereof) and the Council’s Constitution; and

(iv)  Authorise the Finance Director, in consultation with and on the advice of the Investment Panel, to grant loans and complete all necessary documents and negotiations to complete the projects set  ...  view the full minutes text for item 96