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Hertsmere Developments Ltd (HDL) Business Plan

Meeting: 20/06/2018 - Executive (Item 9)

Hertsmere Developments Limited Business Plan and Associated Matters

Report of Officers.


Additional documents:


Decision that:


1.     the Hertsmere Development Limited (HDL) Business Plan be recommended to the Council for approval at its meeting on 11 July 2018 and


2.     a meeting be organised between Executive Members, the opposition Group Leader and Officers to address concerns identified at the meeting, particularly around transparency issues.


Reasons for the Decision


As set out in Minute 5.2 above.   


Alternative Options Considered and Rejected


As set out in Minute 5.2 above.   


Key Points Arising from the Discussion


·       Further to the report, the Corporate Director confirmed that, whilst the loan funding could be provided out of the Council’s own resources, a risk premium of 4% to 5% would nevertheless be charged to the Council.


·       A non-Executive Member requested that a summary of the non commercially sensitive parts of the Business Plan be included in the report to the July Council meeting in the interests of transparency.  He also made comments on the utilisation of sites listed in section 5.3.2 of the Business Plan; the Council’s commitment to Local Housing Allowance (LHA); actively promoting the Council’s Values; and the possibility of developing outside the Borough.  The Chairman proposed, and it was agreed, that a meeting be set up with the opposition Group Leader to discuss the concerns he had raised, in particular around issues of transparency.


(Action:  Corporate Director)