Summary and recommendations

To update the Shareholder on progress of the strategic review and revised Business Plan for the OCHL group of companies. To receive the 2018/19 Annual report and audited Financial Statements for the year ended 31 March 2019.

Recommendation(s):

That the OCHL Shareholder resolves to:

1.     Note the progress of the strategic review and revised Business Plan for the OCHL Group of companies and to seek support for the proposed plan of action.

2.     Note the Housing Group Annual Review (Appendix 1);

3.     Note the audited Annual Report and Financial Statements for the year ended 31 March 2019 (Appendix 2)

4.     Note the Housing Group Delivery Programme (Appendix 4).

The interim Managing Director for the Housing Group presented a report which detailed the progress of the strategic review and the development of a revised Business Plan for the Housing Group of companies.

This item was discussed in confidential session.

The Shareholder resolved to:

1.     Note the progress of the strategic review and revised Business Plan for the OCHL Group of companies and to seek support for the proposed plan of action

2.     Note the Housing Group Annual Review (Appendix 1)

3.     Note the audited Annual Report and Financial Statements for the year ended 31 March 2019 (Appendix 2)

4.     Note the Housing Group Delivery Programme (Appendix 4)

Summary and recommendations

To update the Shareholder on progress of the strategic review and revised Business Plan for the OCHL group of companies. To receive the 2018/19 Annual report and audited Financial Statements for the year ended 31 March 2019.

Recommendation(s):

That the OCHL Shareholder resolves to:

1.     Note the progress of the strategic review and revised Business Plan for the OCHL Group of companies and to seek support for the proposed plan of action.

2.     Note the Housing Group Annual Review (Appendix 1);

3.     Note the audited Annual Report and Financial Statements for the year ended 31 March 2019 (Appendix 2)

4.     Note the Housing Group Delivery Programme (Appendix 4).

The Housing Group representatives re-joined the meeting at the beginning of this item.

The Managing Director of the Housing Group of companies, Richard Connolly,  reminded the Panel of the background to the strategic review of the approach previously adopted by the Council and OCHL with respect to an affordable housing delivery model and subsequent ownership. While the OHCL Investment company had taken centre stage for a number of years, the Development company  was now also coming to the fore. The Business Plan was subject to a 6 month review feeding into the 2020/2021 budget setting process. The first scope of the revised plan would be completed in September. While the plan would cover a 10 year period it would, inevitably, need to be a dynamic document, only ever representing a snapshot at a point in time and subject to regular review to reflect the prevailing housing and associated market conditions. The budget would be detailed for year 1 and necessarily indicative after that. 

The company was currently scoping an alternative affordable intermediate tenure offer, based on the concept of an “Oxford Living Rent”, an affordable rent to buy model with grant funding for those unable to access traditional social housing or low cost home ownership. Legal advice was being provided by Trowers and Hamlin  solicitors. If possible to progress this model it would be aimed at working households to provide a complementary broader local offer and, given its innovative nature, the Chair  suggested it would be worthy of publicity in due course. Alternatively, the “Oxford Living Rent” could form part of a grant-funded Affordable Rent tenure, to secure additional affordable housing.

OCHL was seeking to expand the pipeline of opportunities, bidding at every reasonable opportunity for potential sites, and developing a delivery programme for the next batch of Council owned sites. This expansion to include progression of a formal programme with the NHS and County Council in relation to the provision and release of sites for housing. This element would necessitate a considerable amount of community consultation. Richard Connolly  confirmed that the current pipeline of sites and properties was sufficient for the immediate future.

Exploratory meetings with District Councils (West Oxfordshire and Cherwell in the first instance) were planned to scope opportunities for joint working and priorities for Oxford.

The Panel asked about the use of Compulsory Purchase Orders to acquire land and or property. The Company Secretary noted that CPOs were a measure of last resort, would usually need to be preceded by a well formulated development plan and were potentially very costly.

As part  of the governance review, the skills audit of the Board was likely to include recognition that OCHL would benefit from the additional expertise which would come with the appointment of Non Executive Directors. 

The Council’s declaration of a climate emergency was giving further emphasis to understanding the implications of  net zero carbon housing. To this end the Housing Development & Enabling Manager, Alan Wylde, was conducting a meta-literature review into current technologies  ...  view the full minutes text for item 71