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. 

RESOLVED: That

(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.