Apologies for absence were received from Councillor Buck (substitute: Cllr Beggs).

The following declaration of interest was made:

Cllr George – Agenda Item 5 (Porters Place LLP – Change of Control) – brother-in-law is on the Board of Sanctuary.

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.

To agree that, under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the item of business set out below on the grounds that it involves the likely disclosure of exempt information as defined in Part 1 of Schedule 12A to the Act, and that the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Resolved:-

That, under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the item of business set out below, on the grounds that it would involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A to the Act and that the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Confidential report of Executive Director (Neighbourhoods and Environment) to follow

The Board considered a report of the Executive Director (Neighbourhoods and Environment) presenting an update on the progress with regards to discussions with London Hire Community Services (“LHCS”) about the share ownership of Vecteo,

Resolved:

1. That Cabinet be recommended to approve the recommendations set out in the submitted confidential report pertaining to the share ownership of London Hire Community Services (LHCS) and Southend Travel Partnership.

2. That a further report be brought to the next Shareholder Board meeting with an update on the matters set out in the confidential report.