Purpose

The updated business plan for WV Living
2025-2030, including an update on the geographic area of operation
for WV Living as The Greater Birmingham and Black Country Housing
Market Area

Content

1.     
That the updated business plan for WV Living 2025-2030 be
approved.

 

2.     
That authority be delegated to the Cabinet Member for City Housing
and the Cabinet Member for Resources, in consultation with the
Chief Operating Officer and the Deputy Director of Finance to
approve detailed loan agreements, amendments to any loan agreements
and the execution of any loan agreements or other financial
instruments between the Council and WV Living.

 

3.     
That the Council would continue to act as guarantor for contracts
entered into by WV Living where appropriate and that authority be
delegated to the Cabinet Member for City Housing and the Cabinet
Member for Resources, in consultation with the Chief Operating
Officer and the Deputy Director of Finance to authorise any
such guarantees.

 

4.     
That authority be delegated to the Cabinet Member for City Housing
and the Cabinet Member for Resources, in consultation with the
Chief Operating Officer and the Deputy Director of Finance to
approve the establishment of additional subsidiary management
companies for future developments and the transfer of these
management companies to homeowners upon completion of
developments.

 

5.     
That the geographic area of operation for WV Living be approved as
The Greater Birmingham and Black Country Housing Market Area.

 

6.     
That profits earned from developments outside Wolverhampton would
be reinvested in less viable sites within the City of Wolverhampton
and not be distributed as dividends.

 

7.     
That in the light of the new Business Plan the Council confirms
that it has confidence that WV Living is a going concern for at
least the next 12 months.

 

8.     
That it be noted, updates to the Business Plan for WV Living would
be brought to Cabinet for approval on an annual basis.