Agenda item

Report of the Corporate Director of Regeneration and Economic Development.

The Chairman thanked the Housing Directions Manager, Marie Roe who was in attendance to give an update to Members in relation to the Housing Stock Transfer Project (for copy see file of minutes).  The Chairman congratulated the Housing Directions Manager, the Housing Stock Transferhaving won the Excellent Service award at the Great Staff, Great Stuff awards.

The Housing Directions Manager noted that a lot of activity was taking place in the run-up to the transfer of the Council’s housing stock to a new group, comprising of the existing housing management organisations since December 2012.  Members were reminded that a ballot of all Council tenants had resulted in a return of 11,316 votes from tenants with 82% voting in favour of stock transfer.  The Council’s Cabinet subsequently agreed to proceed with the transfer and the Department for Communities and Local Government (DCLG) signed off on the process, with the transfer scheduled to take place 23 March 2015.  Councillors were reminded that transfer prior to 31 March 2015 ensured that the debt write-off of approximately £130 million would be given by DCLG.

The Chairman thanked the Housing Directions Manager and asked Members for their questions on the report.

Members asked questions relating to how the potential funders were scrutinised, for example on their ethical policies and the financially stability of those potential funding providers.

The Housing Directions Manager explained that the testing process for potential funders was very rigorous, looking at tests carried out by the Financial Conduct Authority (FCA) and each was met to discuss their social responsibility, and how that related to the County and our local communities.  It was added that as the new Housing Organisation was “attractive”, the potential funders were all well established and long standing in the market.

Resolved:

(i)          That the report be noted.

(ii)         That the Economy and Enterprise Overview and Scrutiny Committee receive further progress updates in relation to the development, impact and delivery of the new arrangements for housing in County Durham.