That, on the recommendation of the Acting Managing Director, Housing, Social Services and Dearness Home, the Managing Director, Corporate Services and the City Treasurer, Chief Financial Officer and with the concurrence of the City Manager, that the following actions be taken with respect to the proposed restructuring of the Housing Development Corporation, London (HDC), next steps and timelines:
a) the report dated December 16, 2020 titled “Governance Functional Review – Housing Development Corporation, London (HDC), BE RECEIVED;
b) the Acting Managing Director Housing, Social Services and Dearness Home BE AUTHORIZED to implement recommendations contained in the report noted in a) above;
c) the Civic Administration BE DIRECTED to bring forward the necessary by-laws and documentation to dissolve Housing Development Corporation, London (HDC) and to integrate the affordable housing portfolio into the Corporation of City of London’s Corporate Structure with an implementation timeline of Q2 2021; and,
d) the Civic Administration BE DIRECTED to undertake all other actions required to support the effective implementation c) above, within the timelines set out in the report noted in a) above.