Second Scrutiny Report on the Haringey Development Vehicle just published #HDV

Yesterday the Council published the second report by the Housing and Regeneration Scrutiny Panel which has been scrutinising the Haringey Development Vehicle (HDV) and its implications for the last eight months.

Our first report was published on January 9 and had wide circulation.  In that report we called for a halt to the HDV largely because of the very high risks involved in this venture. Our second report was published yesterday, June 9, as soon as election purdah was over. I have posted the report below. It starts on page 71 of the pack. It contains over 25 recommendations. The first set of recommendations  urge that the decision is deferred until a fully updated business case is prepared and evaluated.

The business case, on which the HDV relies, was approved in November 2015 and is now obsolete. We also recommended that a redrafted business case be undertaken by an independent external advisor to bring a fresh view. Given the volatility of both politics and the economy at present and the uncertainties around Brexit, we say in paragraph 8.3 of the report that

'There was consensus that the Business Case needed to be revisited. This preceded the announcement of the unexpected general election, which has brought further uncertainty and will mean further change. It was noted that this should be made a priority in order to limit the risks and uncertainties faced by the Council'.

The link to the report is here

We heard extensive, detailed evidence from a vast range of experts covering finance and risk, urban regeneration, housing, local government and planning, and their written evidence is published as an appendix. Please do read the report and make your judgment.

Zena Brabazon 

Cllr, Harringay Ward