Purpose

to ...
This report provides Cabinet with a final draft of the i4B Holdings
Ltd (i4B) 2024/2 Business Plan. Cabinet is asked to approve the
Business Plan on behalf of the Shareholder.

Content

Cabinet noted the introductory
comments made by Andrew Hudson (as Chair of the i4B and First Wave
Housing (FWH) Ltd Boards) in presenting the i4B and FWH Business
Plans who began by outlining the nature of the current challenges
faced in relation to the performance of both companies as a housing
service, which included rent collection during a cost-of-living
crisis; building safety; pressure from disrepair claims as well as
longer term issues such as working towards net zero.
 
In focussing on priorities
moving forward he highlighted the work being undertaken to tackle
voids (including minor void performance), which included looking
for best practice as well as further activity to streamline
processes, and other housing management issues which had included
establishing closer links between staff and the areas they covered
in order to develop a more holistic approach and relationship with
tenants and the Board continuing to closely monitor levels of
tenant satisfaction.
 
In terms of strategic
challenges, he advised members that they key focus remained on
seeking to maximise the Boards contribution to the Council’s
wider priorities, with a specific focus in supporting the work
being undertaken to tackle the demand for housing and increasing
levels of homelessness.  As part of this
approach, the Board had identified workstreams over the coming year
aiming to increase i4Bs level of stock (utilising the rise in Local
Housing Allowance (LHA) rates and increased price cap supported by
discussions with the Council on the potential draw down of further
funding) with initial activity focussed around the acquisition of
3-4 bed houses in the North West of the borough above the North
Circular Road and small blocks as well as supporting tenants to
move through i4B.  In terms of the
support to tenants, members were advised of the work already being
undertaken with BEAM as a partner organisation to provide specific
employment support alongside the focus in developing wider packages
of support for tenants.
 
In recognising the challenges
outlined alongside current performance and welcoming the approach
adopted in relation to the strategic priorities identified by i4B,
Cabinet RESOLVED:
 

(1)    To
approve the 2024-25 i4B Holdings Ltd Business Plan and financial
model as Shareholder of the Company.

(2)    To
approvethe 2024-25 Service Level Agreement
between i4B Holdings Ltd and the Council.

 
Eligible for call-in:
Yes

 
Deadline for submission of
call-in: 6pm on Monday 18 March 24