That the land at Little Blagdon Farm, Collaton St Mary (edged red in Appendix 1) be transferred into the ownership of Torbay Council.

To give effect to the decision of the Council.

There were several options considered regarding the existing transfer of the companies and component parts including whether some could be assumed within the Council, however alternative options were discounted due to the need for the Council to be able to act within legislation pertaining to the function of Local Government.

This decision will be implemented immediately.

On 7 December 2023 the Council agreed:

That TorVista Homes be dissolved with effect from 1 April 2024, (or immediately following transfer of all social housing units, if this is beyond this date), with mandatory de-registration to the Regulator of Social Housing by TorVista Homes in advance.

The approved recommendations within the Council report included:

That the Director of Finance, in consultation with the Monitoring Officer and Cabinet Member for Housing, Finance and Corporate Services, be given delegated authority to:

a.    subject to satisfactory completion of all necessary due diligence, (and tenancy engagement), enter into the Capital funding grant agreements with Homes England and to transfer all social housing units, assets, liabilities and income from TorVista Homes into the ownership and management of Torbay Council; and

b.    upon completion of all satisfactory due diligence, transfer any land or development assets owned by TDA or TorVista Homes into the ownership of Torbay Council, as required;

The Director of Finance was given delegated authority to determine 2a. and b. above. As such, the Council has scheduled to take ownership of land at Little Blagdon Farm, Collaton St Mary, owned by TorVista Homes from 31 March 2026.

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