Issue - meetings

That as recommended by Cabinet Committee: Housing, the updated financial business plan set out at exempt Appendices A and B of report CAB3482(H) be approved.

That the updated financial business plan as included in exempt Appendices A and B of report CAB3482(H) be recommended for approval to Cabinet.

At the invitation of Councillor Westwood, Councillor Pett provided an introduction to the report as one of the four non-executive Venta Living Ltd directors.  He highlighted that two other directors were also present - Tim Sharp and Dawn Adey.  Councillor Pett reported that the initial project to lease 41 flats in Winnall (Foxglove House) had overrun with the first tenancy taken up in June 2024.   However, good progress was being made and currently all but five of the flats had been let and of these, four were awaiting references and one awaiting an offer.

Ian Tait spoke during public participation as summarised briefly below.

He believed that with the information supplied in the report (less exempt appendices) he was not able to ascertain any good commercial reason for the establishment of the housing company.  He suggested that the Winnall flats could have been let instead through another affordable housing provider such as Winchester Housing Trust.

The Strategic Director responded to the comments made by Mr Tait including confirming that the financial viability of Venta Living has been established at the time of its incorporation.

The Strategic Director and Councillor Pett responded to questions and comments raised by councillors as follows:

a)    The possible reasons for the slow uptake of tenancies.

b)    Whether there would be further opportunities for future housing provision through Venta Living?

c)    Had the developer paid any compensation to the council because of the delays?

d)    How tenant satisfaction with the new flats would be assessed.

The Cabinet Committee moved into exempt session to consider the contents of the exempt appendices before returning to open session to consider the report’s recommendations as set out below.

The Cabinet Committee agreed the following for the reasons set out above and outlined in the report.

RECOMMENDED TO CABINET:

That the updated financial business plan as included in exempt Appendices A and B of the report be recommended for approval to Cabinet.