Decision details

Sutton Living Limited - Business Plan Update

Decision Maker: Sutton Shareholdings Board

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

This report sets out amendments recommended by Sutton Living Limited to assumptions in the business plan published in February 2016 and seeks the approval of Sutton Shareholdings Board to these amendments.

Decisions:

The Interim Managing Director, Sutton Living presented the report which sought approval of changes to some assumptions within the Sutton Living Business Plan. Members asked questions about the affordability of rents and how aspirations of the company would be met in light of the Mayor of London’s affordability measures. The Sutton Living Director advised that a further report would be brought to the March meetings on whether the company would seek to register as a provider in order to drawn down on grant funding from GLA.

 

In addition members asked how the Company will approach managing a portfolio of sites and overall viability. Officers advised that it was important that each scheme was viable in it’s own right and a guiding principle would be achieving commercial returns for the Company.

 

Members also highlighted that the financial performance records set out were intended to be used to monitor performance , not with the intention of projects having to meet all targets.

 

Resolved


That the proposed amendments to the Sutton Living Business Plan, summarised in Appendix A of the report, be noted and approved

Report author: Simon Latham

Publication date: 16/01/2017

Date of decision: 04/01/2017

Decided at meeting: 04/01/2017 - Sutton Shareholdings Board

Accompanying Documents: