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1.    
That the updated business plan for WV Living 2024-2029 be
approved.

 

2.    
That authority be delegated to the Deputy Leader: City Housing in
consultation with the Chief Operating Officer and the 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 Deputy Leader: City Housing in consultation
with the Director of Finance and the Chief Operating Officer to
authorise any such guarantees.

 

4.    
That authority be delegated to the Deputy Leader: City Housing in
consultation with the Chief Operating Officer and the 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 Sally Saunders, Managing Director of WV Living, be appointed
as a statutory director and member of the Board of Directors of The
City of Wolverhampton Housing Company Limited.

 

6.    
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.

 

7.    
That it be noted that the updated business plans for WV Living
would be brought to Cabinet for approval on an annual basis.