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

No declarations of interest were received.

A minutes silence was held as a mark of respect for former Councillor G. Ferguson who had recently died.

Report of Director of Housing

Consideration was given to a report of the Director of Housing (for copy see file of Minutes) relating to updating the Stock Options Appraisal Study.

The Cabinet Member for Housing and the Chief Executive outlined the background and reasons for updating the Appraisal Study.

Members were reminded that Council had, in accordance with Government requirements, undertaken a Stock Options Appraisal Study on future investment and management of its housing stock in 2003.  The preferred option as a result of the study was to seek transfer of the ownership of the Council stock to a registered social landlord.  This option had been subjected to a tenants vote in July 2005 which resulted in the Council retaining its housing stock.

On 7^th July, 2007 Cabinet had considered a report recommending revisiting the strategic options to consider how the future investment needs of its housing stock could be met whilst ensuring its ongoing effective management.  The study had been set within the context of national and local policy changes over the last two years and built on much of the intelligence available to the Council through the continuous updating of its information base around its housing stock and the wider needs of the community.

The report outlined the preferred option for the future management and maintenance of the Council’s housing stock based on the following three key drivers :-

Ø               The outcome of future investment needs of the housing stock set against the available resources over the next 5 years.

Ø               The findings of the Council’s Stock Options Appraisal Group.

Ø               The findings of survey of all the Council tenants.

The other elements set out in the Stock Options Appraisal Guidance issued by the Government in 2003 had been considered as part of the research to support the outcome of the study.

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

Report of Director of Housing

Consideration was given to a report of the Director of Housing (for copy see file of Minutes) regarding the preferred choice of landlord to accept the Council’s housing stock following a successful ballot of tenants.

It was explained that on 7^th June, 2007 Cabinet considered a report  recommending revisiting the strategic options to consider the future investment needs of its housing stock and its ongoing effective management. The approach adopted was to update the Stock Options Appraisal Study completed in 2003. 

Cabinet on 11^th October 2007 had agreed to recommend to Council that the preferred option for the future ownership and management of the Council’s housing stock was to seek its Large Scale Voluntary Transfer (LSVT) to a Register Social Landlord. 

RESOLVED :         That a new standalone Registered Social Landlord for Sedgefield Borough be established as the preferred choice of landlord for the Large Scale Voluntary Transfer of the Council’s housing stock.