The Lead Member for Infrastructure, Transport Policy, Housing and Property introduced the RBWM Property Company Ltd latest Business Plan for 2019 to 2024.

The Lead Member informed Cabinet that the property company fulfilled two main functions for the council; providing consultative work for regeneration and managing a small portfolio of properties.  The business plan had been updated following a detailed review. The updated business plan assumed a growth of assets from 13 existing properties to 126 from 2019-2024 and enabled the delivery of up to 4,000 homes, 30% of which will be affordable by 2034.

Councillor Jones asked how the council would fund the increased growth it property assets and was informed that 67 had already been approved via capital bids funded by the council.  Each opportunity was assessed by the property companies board and by the council on its own merit.

Resolved unanimously:  that  Cabinet notes the report and:

i)    Approves the updated Business Plan for 2019-2024.

ii)   Approves the amendments to the shareholder operating protocol.