This report of the Head of Housing seeks project approval for a scheme to provide equity loans to support the recruitment of teachers  to leadership roles in schools in the areas identified as priority for the educational attainment initiative.  The report RECOMMENDS the Board to:-

(1)               Grant project approval for the equity loan scheme for teachers;

(2)               Waive the requirement to seek quotes under Contract Rule 19.12 on the grounds that to do so would achieve no overall economic benefit to the Council;

(3)               Agree a virement of £150,000 from the Depot Relocation Feasibility Study budget;

(4)               Grant delegated authority to the Executive Director, City Regeneration to:-

(a)   approve the operational details of the scheme and the funding based on the principles set out in section 3 of the report;

                (b) in conjunction with Procurement Team and Legal Services, negotiate the operation and capital funding of the scheme with Catalyst Housing Group.

The Head of Housing submitted a report (previously circulated, now appended).

Councillor Campbell spoke on the item.  He asked questions concerning  interpretation of which teachers would qualify for the loans (described in the report as teachers who were in leadership roles) and on the success in practice of the 2005 equity loans for key workers scheme.

On the first question the Leader explained that teachers in leadership roles had a particular meaning in education (ie teachers in senior management teams).  On the 2005 scheme, the Chief Executive said he would arrange for the outcome of the 2005 scheme to be checked and evidence of its success reported upon to members.

In response to further questions the Executive Director, City Regeneration and Housing said that the equity loans for teachers scheme was likely to go live in September.

Resolved to:-

(1)               Grant project approval for the equity loan scheme for teachers;

(2)               Waive the requirement to seek quotes under Contract Rule 19.12 on the grounds that to do so would achieve no overall economic benefit to the Council;

(3)               Agree a virement of £150,000 from the Depot Relocation Feasibility Study budget;

(4)               Grant delegated authority to the Executive Director, City Regeneration to:-

(a)   approve the operational details of the scheme and the funding based on the principles set out in section 3 of the report;

                (b) in conjunction with Procurement Team and Legal Services, negotiate the operation and capital funding of the scheme with Catalyst Housing Group.