Issue - meetings

Flexible Home Improvement Loans Ltd - Future

 

 

Meeting: 02/12/2025 - Executive (Item 11.)

11. Flexible Home Improvement Loans Limited - Future of Company pdf icon PDF 277 KB

Report of Interim Executive Director Neighbourhood Services

 

Purpose of report

 

To update the Executive on Flexible Home Improvement Loans Limited and its status, the alternative governance structures proposed for the company and to agree the preferred model as stated within the recommendations.

 

Recommendations

 

The Executive resolves:

 

1.1           To delegate authority to the Executive Director Neighbourhood Services to enter into negotiations to form a consortium with other Local Authority members.

 

1.2           To delegate authority to the Executive Director Neighbourhood Services to engage with the procurement of a Financial Conduct Authority (FCA) regulated provider to undertake loan administration services on behalf of the consortium.

 

1.3           To authorise the Executive Director Neighbourhood Services to engage with the winding up of FHIL once the net assets have been transferred with the appropriate safeguards.

 

1.4           To delegate to the Executive Director Neighbourhood Services in consultation with the Monitoring Officer and Section 151 Officer the authority to negotiate and agree new contracts pertaining to the future of FHIL on behalf of the Council.

 

Additional documents:

Decision:

Resolved

 

(1)            That authority be delegated to the Executive Director Neighbourhood Services to enter into negotiations to form a consortium with other Local Authority members.

 

(2)            That authority be delegated to the Executive Director Neighbourhood Services to engage with the procurement of a Financial Conduct Authority (FCA) regulated provider to undertake loan administration services on behalf of the consortium.

 

(3)            That the Executive Director Neighbourhood Services be authorised to engage with the winding up of Flexible Home Improvement Loans Limited once the net assets have been transferred with the appropriate safeguards.

 

(4)            That authority be delegated to the Executive Director Neighbourhood Services, in consultation with the Monitoring Officer and Section 151 Officer, to negotiate and agree new contracts pertaining to the future of Flexible Home Improvement Loans Limited on behalf of the Council.