Decision details

Received a report and presentation on the stock option appraisal carried out as part of the Council’s Housing Futures programme.

Agreed, in order to assist the Council in achieving its Community Priorities of ‘Regenerating the Local Economy’ and ‘Improving Health, Housing and Social Care’ and to meet tenants’ aspirations, to

1.  The pursuing of Model 3, as detailed in the report, as the route on which further analysis will be undertaken, which will include:

·  Feasibility studies on Borrowing and Private Finance Initiative schemes

·  A further 100% survey of tenants to confirm their support for the direction the Council is taking

·  Detailed consultation with High Rise tenants

·  Further staff briefings in April 2005

·  Presentations on the  findings to the Housing Futures Forum in May 2005

·  Identifying ways in which Model 3 can become affordable

·  Reviewing the viability of tenants’ aspirations

2.  Note that a further reports will be presented in due course, which will include details on risk analysis and contingency plans.