Agenda and minutes

Sutton Shareholdings Board
Monday, 9th May, 2016 6.30 pm

Venue: Civic Offices, St Nicholas Way, Sutton SM1 1EA

Contact: Alexa Coates, Head of Committee and Management Support  Tel: 020 8770 5094 | Email:  alexa.coates@sutton.gov.uk

Items
No. Item

27.

Apologies for absence

Minutes:

There were no apologies for absence.

28.

Any Items the Chair deems urgent

Minutes:

There were no urgent items.

29.

Minutes pdf icon PDF 112 KB

To confirm as a correct record the minutes of the meeting held on 22 February 2016.

Minutes:

The minutes of the meeting held on 22 February 2016 were approved as a correct record and signed by the Chair.

30.

Declarations of Interest

Minutes:

There were no declarations of interest.

31.

Sutton Living Performance Update pdf icon PDF 134 KB

Additional documents:

Minutes:

The Executive Head of Housing and Regeneration introduced the report which set out the performance update and risk register for Sutton Living Limited. Members discussed the potential scaling back of ambitions and what the potential risks factors were. Officers advised that this was related to the availability of buying homes off plan on sites which had been impacted by the upturn in the housing market. Members commented that this was positive for residents if it meant an availability of housing regardless of whether provided by Sutton Living or others. Officers confirmed that that status of acquiring sites for new build homes had not been affected.

 

In addition members discussed the proposed changes to the financial modelling assumptions and endorsed the move to assumptions which were closer to market value.

 

Members requested that a written briefing on Local Housing Allowance (LHA) rate be circulated to members of the committee which the Executive Head of Housing and Regeneration agreed to do.

 

Resolved

 

1.    That the performance update set out at section 3 of the report be noted

 

2.    That the risk register set out at Appendix A (exempt) to the report be noted

 

3.    That the amended financial modelling set out at paragraph 4.6 of the report be approved

32.

SDEN Performance Update pdf icon PDF 145 KB

Additional documents:

Minutes:

The Head of Economic Renewal and Regeneration presented the report which set out the performance report and risk register for Sutton Decentralised Energy Network (SDEN) Limited.

 

Members discussed how the procurement process worked for SDEN and officers confirmed that currently the Council were the contracting authority but that it had been made clear that this could transfer to SDEN as a wholly owned subsidiary of the Council. Officers updated members on the work done to attract Small and Medium Sized Enterprises (SMEs) to tender for contracts, including successful workshops. Officers advised that as a wholly owned subsidiary SDEN was still subject to Utility Contract Regulations and EU procurement rules.

 

Members discussed whether retrofitting was part of the SDEN proposals and Officers advised that the business case agreed for Phase 1 was purely based on delivering to new builds at the Felnex site. Members commented that, if Phase 1 proved viable, then Phase 2 could involve retrofitting in respect of large scale projects such as leisure centres and hospitals and was unlikely to involve individual dwellings. It was highlighted that the principle purpose of SDEN was to realise the Council’s sustainability ambitions. It had been agreed that the Phase 1 should pay its way, but the potential to generate income, more likely at Phase 2, was an added incentive.

 

Members discussed the performance report set out at Appendix A to the report and why the completion of negotiations had been pushed back to September. Officers advised this was due to Barratt’s focus on the planning process and that draft contracts had been issued for comment. Members requested that any changes to timescales were set out more openly in future performance reports.

 

Resolved

 

1.    That the performance update as set out at Appendix A to the report be noted.

 

2.    That the amended risk register as set out at Appendix B (exempt) be approved.