London councils are beginning to build housing again, including through local housing companies. These are commercial organisations owned wholly or in part by a local authority.
These companies can buy land, build and manage properties on behalf of the local council. They are not subject to the Government’s housing finance system and rules and they offer another income stream to replace reduced sources of funding.
The committee will look at whether these local housing companies could help to relieve the pressure of the housing crisis in London.
But because they are commercial entities, they may take on more risk than a public authority might. Their business may also be less transparent.
The Housing Committee will tomorrow discuss the opportunities and risks of developing new local borough housing companies and how they can help to meet London’s housing need. The guests are:
- James Murray, Deputy Mayor, Housing and Residential Development
- Cllr Ravi Govindia, Leader, London Borough of Wandsworth
- Deborah Heenan, Major Projects Director, London Borough of Newham
- Richard Blakeway, Chair, BexleyCo
- Pat Hayes, Chief Executive, BeFirst
- Cllr Louise Mitchell, Cabinet Lead for Housing, London Borough of Waltham Forest
- Simon Theobald, Head of Finance, Neighbourhoods and Housing, London Borough of Hackney
- Mark Baigent, Interim Director of Housing and Regeneration, London Borough of Tower Hamlets
The meeting will take place on Tuesday, 4 September at 10:00am in The Chamber (The Queen’s Walk, London SE1).
Media and members of the public are invited to attend
Notes to editors
- Agenda papers
- Sian Berry AM, Chair of the Housing Committee, is available for interviews. Please see contact details below.
- Housing Committee.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For media enquiries, please contact Funmi Olutoye on 020 7084 2713. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer. Non-media enquiries should be directed to the Public Liaison Unit on 020 7983 4100.