The relevant Minute of the meeting of Cabinet held on Tuesday 8^th November 2022 will be circulated to the Committee in due course.

Referred direct by Cabinet

The Committee considered Minute 469 of Cabinet held on 8 November, which had been referred direct to Scrutiny for consideration. This related to the recommendations of the Shareholder Board from its meeting held on Tuesday, 8th November 2022.

The Cabinet Member for Economic Recovery, Regeneration and Housing gave assurance that an update report on the scheme would be submitted to Councillors via Cabinet as soon as practical after the agreement between Swan and Sanctuary had been completed.

Resolved:-

That the following decisions of Cabinet be noted:

“1. That consent, under the Porters Place Southend-on-Sea LLP Agreement, to a change of control of Swan BQ Limited to reflect the proposed acquisition of Swan Housing Association, together with its subsidiaries, by Sanctuary Housing Association, be approved.

2. That the Executive Director of Finance & Resources be authorised to finalise and authorise the execution of any legal documentation (if required) with Sanctuary, and any relevant other party, to comply with the terms of the legal suite and to effect the approval of the change of control.

3. That as per the recommendations of Shareholder Board on 23 August 2022 and the subsequent decision at Cabinet 24 August 2022 (minute 227), that the deadline for receipt of the revised Business Plan remains the end of December 2023.”

Note: This is an Executive Function

Cabinet Member: Cllr Gilbert

Report of Director of Regeneration & Growth attached

The Board considered a report of the Director of Regeneration and Growth seeking approval to the Council’s consent under the Porters Place Southend-on-Sea LLP Partnership Agreement for a change of control in preparation for the proposed acquisition of Swan Housing Association (Swan HA) by Sanctuary Housing Association (Sanctuary).

The Board asked a number of questions which were responded to by the officers.

Resolved:

1. That Cabinet be recommended to give consent, under the Porters Place Southend-on-Sea LLP Agreement, to a change of control of Swan BQ Limited to reflect the proposed acquisition of Swan Housing Association, together with its subsidiaries, by Sanctuary Housing Association.

2. That Cabinet be recommended to authorise the Executive Director (Finance and Resources) to finalise and authorise the execution of any legal documentation (if required) with Sanctuary, and any relevant other party, to comply with the terms of the legal suite and to effect the approval of the change of control.

3. That Cabinet be recommended, as per the recommendations of the Shareholder Board held on 23^rd August 2022 and the subsequent decision at Cabinet held on 24^th August 2022 (Minute 227 refers), that the deadline for receipt of the revised Business Plan remains the end of December 2023.