Issue - meetings

KD 5277 - Company Business Plan updates

Meeting: 03/03/2021 - Cabinet (Item 9)

9 Company Business Plan updates PDF 371 KB

A report from the Director of Law and Governance is attached. (Note: The appendices to the report are restricted documents) (Key decision – reference number 5277)

(This item contains exempt information as defined in Paragraph 3 (information relating to the financial or business affairs of any particular person – including the authority holding that information) of Schedule 12A to the Local Government Act 1972, as amended).

Additional documents:

Appendix A HGL Business Plan 20212024 DRAFT V11002 , View reasons restricted (9/2)
Appendix BiEnergetik Operating Plan002 , View reasons restricted (9/3)
Appendix BiiDraft Energetik Budget v2002 , View reasons restricted (9/4)

Minutes:

Councillor Mary Maguire (Cabinet Member for Finance and Procurement) introduced the report of the Director of Law and Governance providing the business (or operating) plans for the Council’s wholly owned trading companies.

NOTED

1. The Housing Gateway Limited (HGL) has provided 550 homes, provided the Council with £9million savings since its creations, assisted 800 families into sustainable accommodation and is expecting a pre-tax profit of over £1million by the end of 2021.

2. The Forward Plan for the HGL is to deliver a further 300 properties by the end of 2024 and deliver Enfield Let, a sustainable letting agency.

Alternative Options Considered: NOTED, the detailed options that had been considered as detailed in paragraphs 67 to 70 of the report.