Decision details

Decision:

1.       Procurement of a suitably qualified company to carry out a review into the most effective governance structure of North Downs Housing Limited (NDH).

2.       That the review included a detailed options appraisal into the future operation of NDH – including options to wind up the company or to continue operations in a commercially viable manner.

Reason(s):

1.       NDH has experienced difficulties meeting its interest and debt repayments from its operating surpluses.  A review of the company’s viability is required.

2.       The Board of Directors of NDH have asked the Council to consider options for the future of the company, following an options review undertaken by NDH by Savills.

Other options considered and rejected by the Committee:

Do nothing.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

Councillor Angela Goodwin in respect of being a director sitting on the North Downs Housing Board of Directors.