Issue - meetings

Councillor Matt McCabe, Cabinet Member for Built Environment, Housing and Sustainable Development, introduced the item. There was a presentation which covered the following:

·  Aequus Group Business Plan Refresh

·  Business Plan Opportunities and Challenges

·  Aequus Social Value Outcomes

·  Aequus Governance Update

·  Updated Financial Forecast and Pipeline

·  Summary of Key Pipeline Changes

·  Updated Pipeline Analysis

·  Updated Pipeline Analysis – Key Dependencies

·  Updated Financial Overview – Revenue Forecast 2025/26 to 2029/30

·  Updated Financial Overview – Profit Forecast 2025/26 to 2029/30

·  Shareholder Returns

·  Updated Key Risks

Panel members raised the following points and asked the following questions:

Councillor Beaumont asked how Aequus would engage communities in future developments. The Aequus representative responded that  engagement would take place through public sector partner discussions, engagement with landowners and new community engagement partners.

Councillor Heijltjes asked whether Bath Quays would include affordable housing and if so, how many of the 96 units would be affordable/social housing. The Cabinet Member confirmed that the LLP structure allows subsidy to deliver policy?compliant affordable housing. He stated that he could not say now exactly how much affordable housing will be delivered.

Councillor Pankhania asked whether new homes would include solar generation and battery storage. The Aequus representative explained that EPCA homes already include air?source heat pumps, MVHR, triple glazing, and solar PV. Battery storage is under review.

Councillor Heijltjes asked if money from revenue returns would go to frontline services. The Aequus representative explained that it was based on the delivery timeline, some of which is out of our control. The Action Plan has helped. The Cabinet Member added that it can be more complex when dealing with other Councils.

Councillor Jackson stated that she had voted against the North Quays project as there was no social housing planned. She asked why there were no Aequus projects in North East Somerset. The Aequus representative explained that early?stage discussions were underway but details were commercially confidential.

Counsellor Hounsell asked whether financial projections could be shown in today’s money. Officers confirmed that net present value modelling could be provided.

The Chair thanked the officers and Cabinet Member.