Agenda item

The Council received a report which set out the business plans for eight of the companies within the Thameswey Group of Companies together with a summary of the benefits for Borough residents brought about by the activities.  The Business Plans had been approved by the relevant Boards.

The Leader of the Council, Councillor Bittleston, introduced the report and responded to the points raised by Councillors, in particular on the issue of affordable housing, its definition and the number of new homes that would be achieved through the Thameswey Group.  The Council’s track record on delivering new homes was outlined and reference was made to the Borough’s ‘Earn Your Deposit’ scheme through which tenants would receive an annual lump sum that could be put towards securing a deposit for a property of their own.

In accordance with Standing Order 10.8, the names of Members voting for and against the recommendations were recorded.

In favour:                      Councillors H Addison, S Ashall, A Azad, D Bittleston, A Bowes, G Chrystie, K Davis, D Harlow, Mrs B Hunwicks, S Hussain, C Kemp, N Martin, R Mohammed and C Rana.

                                      Total in favour – 14

Against:                         None.

                                      Total against – 0

Present not voting:        Councillors M Ali, A-M Barker, J Bond, A Boote, M Bridgeman, I Eastwood, K Howard, D Hughes, L Lyons, L Morales and M I Raja.

                                      Total present not voting – 11

The recommendations were therefore carried by 14 votes in favour to 0 votes against.

RESOLVED

That  (i)    the Business Plans for the Thameswey Group of Companies be approved;

          (ii)   Councillor Debbie Harlow as Portfolio Holder for Housing, be appointed as a Councillor Director of Thameswey Housing Limited, Thameswey Guest Houses Limited and Thameswey Limited;

          (iii)  an increased Loan Facility of £130M be allocated to Thameswey Housing Limited for the period of April 2022 to December 2023 to finance additional affordable homes, and £5M to service the debt with future years Loan facilities of £5M per annum for long term debt servicing pending reaching its full operational revenue;

          (iv)  extension of the Loan Facility for Thameswey Central Milton Keynes Limited for 2020 and 2022 in the aggregate sum of £7.5M; and

          (v)   TSL to merge into TEL to reduce operating costs and maximise efficiency.