that the necessary authority be delegated to the
Director of Housing and Assets and Director of Legal and Governance
to take the necessary steps to incorporate a company limited by
shares for the purposes of housing delivery within Ashfield and
that authority be delegated to the Leader of the
Council in conjunction with the Chief Executive to name the limited
that authority be delegated to the Director of Legal
and Governance, in consultation with the relevant Portfolio Holder,
to produce the Memorandum and Articles for the Housing Company and
the Shareholder Agreement.
that any officer or Member appointed as Directors of
the Company be indemnified.
that the Company obtains suitable insurance cover
for its Directors.
REASON FOR DECISIONS
To enable the further work that
is required to finalise the company structure and its constitution
before the Company is established. The company shall not be named
until such time as registration/incorporation is
ALTERNATIVE OPTIONS CONSIDERED AND REASONS FOR
The alternative option of not
forming a Housing Company was not recommended as while the Council
does not need to form a Housing Company at this juncture the
decision to progress with the formation of the company at this
point in time is to capitalise on investigative work already
undertaken in this area and the relative low cost of incorporating
a shell company for potential future use. It also means the company
is already set up should the need for urgent company intervention,
action or opportunity is required e.g. the rescue of a stalled
building development and/or a commercial opportunity to buy a
medium to large rental portfolio within the District.