Issue - meetings
Magenta Living - Group Structure
Meeting: 09/10/2014 - Cabinet (Item 71)
The Cabinet Member - Neighbourhoods, Housing and Engagement introduced a report by the Director of Regeneration, Housing and Planning which informed of proposals to develop a group structure for Magenta Living and sought support at a General Meeting of the Company for the changes. Appended to the report was Magenta Living’s proposed new group structure – Heads of Terms.
The Cabinet was informed that Magenta Living’s Board had agreed to establish a group structure in order to be able to provide a wider range of services to its customers. Magenta Living would become a member of the new group which would have a new Registered Provider at its head, allowing Magenta Living to continue providing social and affordable housing as it currently did.
(1) the proposal for Magenta Living to enter into a group structure and proposed Heads of Terms be agreed;
(2) it be noted that these changes will also require changes in the drafting of the rules of Magenta Living, its constitution;
(3) the relevant Council officer be authorised to vote on the changes (and associated matters) proposed and referred to in the report at the forthcoming Magenta Living General Meeting; and
(4) this report be referred to the Council meeting scheduled for 20 October 2014 for approval.
Councillor S Whittingham returned to the meeting.