The Chair of the Board of Directors will present this item.

Recommendation(s):

That the Housing Group Shareholder resolves to:

1.     Agree to the acquisition of the Lucy Faithfull House site from Oxford City Council and its inclusion in the Company’s Business Plan; and

2.     Support the provision of a loan facility of up to £13 million to facilitate the development of the site.

The Chair of the Board of Directors presented this item and explained the background to the proposal that the Housing Group should acquire the Lucy Faithfull House site from the City Council through the provision of a loan facility from the City Council.  The site would then be included in the Company’s Business Plan. 

The Shareholder noted the content of the report and the confidential appendix.

The Shareholder resolved to:

1.     Agree to the acquisition of the Lucy Faithfull House site from Oxford City Council and its inclusion in the Company’s Business Plan; and

2.     Support the provision of a loan facility of up to £13 million to facilitate the development of the site.