Issue - meetings

Finance, Qualis Client and Economic Development (C009-2021-22) - It is a requirement of the Shareholder agreement that each year Qualis produce and present to the Council a one year and a 4 year Business Plan for the Council to consider and sign-off.

(1)        The Cabinet considered the views expressed by the Overview and Scrutiny Committee and made any amendments considered necessary to recommend to Council; and

(2)        The Cabinet approved the 4 Year Qualis Business Plan, including the specific permission set out within the covering report.

The Finance, Qualis Client and Economic Development Portfolio Holder introduced the 4 year Qualis Business Plan. He noted that this had also been keenly debated at the previous Overview and Scrutiny Committee meeting. No amendments were considered necessary. He emphasised that the Council was not putting its Council Housing stock to Qualis.

This report presented the 4 Year Qualis Business Plan and sought the Council’s permission to adopt this as its direction and focus.  As a four years business plan it would inevitably change every year according to circumstances but a there will be a one year interim plan submitted each year.

Councillor Patel asked when Qualis proposed to raise its own capital and what was the longevity of the loan finance, and how would it be used. He was told that Qualis were hoping to call down finance from the marketplace in the coming year. They would be reinvesting profits back into Qualis. As for the council loan, this was tied into particular projects which will have to have their own business cases.

Councillor H Whitbread was pleased to see that Council Housing was protected and asked what was Qualis’ plan for affordable housing. She was told that Qualis was looking for a mixture of housing, including affordable housing according to the needs identified.

Councillor C Whitbread commented that it was important to the Council that Qualis was a success as it underlined much of what we did. He was pleased that it was made clear that we had no intention to transfer our Council Housing stock to Qualis and that although there were two members of the District Council on their Board, there were no members of the Cabinet that sat on the Qualis Board.

Decision:

(1)        The Cabinet considered the views expressed by the Overview and Scrutiny Committee and made any amendments considered necessary to recommend to Council; and

(2)        The Cabinet approved the 4 Year Qualis Business Plan, including the specific permission set out within the covering report.

Other Options for Action:

None, it was a requirement of the Shareholder agreement that each year Qualis produce and present to the Council a one year and a 4 year Business Plan for the Council to consider and sign-off.