To notify the Chairman of any items that appear in the agenda in which you may have an interest.

Members had no interests to declare.

To confirm as a correct record the Minutes of the meeting held on 27^th September 2007.

The Minutes of the meeting held on 27^th September 2007 were confirmed as a correct record and signed by the Chairman.

Report of Director of Housing.

The Lead Member for Housing presented a report regarding the above.  (For copy see file of Minutes).

Members were reminded that Cabinet at its meeting on 21st June 2007 had agreed to revisit the strategic options to consider how the future investment needs of its housing stock could be met whilst ensuring its ongoing effective management. 

The report recommended that Large Scale Voluntary Transfer (LSVT) be endorsed and pursued as the preferred option for the future ownership and management of the Council’s housing stock subject to further consultation with relevant stakeholders.

The preferred option was based on the outcome of a financial modelling on the future investment needs of the housing stock set against the available resources over the following five years, the findings of the Council’s Stock Options Appraisal Group and a survey of all Council tenants.

RESOLVED :   That Council be recommended to pursue Large Scale Voluntary Transfer as the preferred option for the future ownership and management of the Council’s housing stock subject to further consultation with relevant stakeholders.

Minutes of the meeting held on 25^th September 2007.

Consideration was given to the Minutes of the meeting held on 25^th September 2007.  (For copy see file of Minutes).

RESOLVED :         That the Minutes be received.

To consider the minutes of the following:

Consideration was given to the Minutes of the following meetings :

Area 2 Forum            -            11^th September 2007

Area 3            Forum -            19^th September 2007

(For copies see file of Minutes).

RESOLVED :           That the Minutes be received.

Members were informed that a press release had been issued that morning by Electrolux regarding an investigation into the future viability of production at its factory in Spennymoor, which manufactured cookers and employed 500 people. 

The factory had been making a loss over the past few years and an assessment was needed on whether it would be feasible to take the business into profit in the foreseeable future.

A distribution warehouse on the site which employed 40 people, would be unaffected by the investigation.   

Published on 12^th October 2007

The key decision contained in these Minutes will be implemented on Monday 22^nd October 2007 five working days after the date of publication unless it is called in by three Members of the relevant Overview and Scrutiny Committee in accordance with the call in procedure rules.