Purpose

To formalise the Management
Company (ManCo) structure for the Morris Walk North redevelopment,
including the Energy Services Company (ESCo), and associated
freehold transfer.

Content

Agreed
to the transfer of the Morris Walk North Management
Company (ManCo), currently owned by
Lovell Director Limited (Lovells), to RBG and Paragon Asra (PA)
Housing, in order to provide estate
management services to the communal area of Morris Walk North and
energy management services.
 
Agreed
that the ManCo will be
jointly owned by RBG and PA Housing, with a share ownership
structure of 50/50, and that the Articles of Association for the
ManCo will be amended
accordingly.
 
Agreed
that PA Housing and RBG may agree a
Management/ 
Shareholder Agreement with deadlock clauses for the
ManCo in order to protect the interests
of both parties’ residents .
 
Noted
the responsibilities of the ManCo listed in 4.2.3 below, and agree that, once
appointed, the Directors of the ManCo
will procure estate services to deliver best value for RBG and PA
Housing residents.
 
Delegated
authority to the Director of Housing and Safer
Communities to agree to the changes to the Articles of Association
and to the creation of the Management/Shareholder Agreement through
a Decision Report.
 
Delegated
authority to the Director of Housing and Safer
Communities to nominate the RBG Director of the ManCo.