The Board of Directors of Oxford City Housing Limited will present the draft OCHL business plan to the Shareholder Group.

Recommendation:

That the Oxford City Housing Companies Shareholder Group resolves to:

1.            Note the progress of the Council’s housing company, Oxford City Housing Limited; and

2.            Endorses, the draft OCHL business plan.

The Board of Directors of Oxford City Housing Limited presented the draft OCHL business plan to the Shareholder Group.

They explained that the main aims of the housing company are to increase the supply and range of housing and affordable housing and to provide a financial return to the Council. There are four initial corporate objectives (CO) which were set by the Council and are the company’s initial business lines:

1.      The purchase and management of the affordable rented homes at Barton (CO1)

2.      To develop new affordable housing with a range of tenures (CO2)

3.      The purchase and management of high value void properties from the Council to help fund the Government’s levy to compensate Housing Associations for exercising the Right to Buy (RTB) (CO3)

4.      To undertake estate regeneration schemes (CO4)

The Shareholder Group resolved to:

1.            Note the progress of the Council’s housing company, Oxford City Housing Limited; and

2.            Endorse the draft OCHL business plan.

Cllr Tanner left the meeting during this item.