Purpose

1. To provide an update on the council’s
investment in Resonance’s National Homelessness Property Fund
1 (NHPF1).
2. To seek approval to roll our existing investment in NHPF1 into
the new “Evergreen/Open Ended” fund for an initial
5-year period.

Content

That the Committee
for Strategy and Resources authorised the Executive Director:
Housing, in consultation with Chair of the Strategy and Resources
Committee and Director: Finance, to:
 
1. Re-invest the
existing investment in NHPF1 (currently valued at c.£10m)
into the new “Evergreen/Open Ended” fund for an initial
5-year period, and
 
2. Negotiate and
agree the terms of the funding and nominations agreements.