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 Barking and Dagenham Reside Regeneration Ltd (Co No (09512728) 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 final detailed operational model and any costs associated with delivering the Property Management functions and any associated legal or contractual documentation.

(b)  approve the strategy for reviewing and updating the Reside Group structure to ensure it is in the best possible position to achieve its strategic outcomes and to fulfil its legal obligations. 

(c)  take all necessary action to enable Reside to carry out its proposals under the Business Plan and to agree any variations to the business plan or shareholder agreement and enter any agreements or warranties necessary.

(d)  take all necessary action to wind up or otherwise repurpose any companies in the structure on behalf of the Council as shareholder and apply for all necessary consents to do so.