Grenfell Tower: ‘private’ taxpayer funded business?

How can a taxpayer funded company be termed private business? Is this capitalism or rather a form of Marxist Collectivism?
Grenfell Tower: A Tory Wicker Man ?
http://21stcenturywire.com/2017/06/15/grenfell-tower-a-tory-wicker-man/
… Conservative MPs sidelined legislation that would have required higher safety standards. According to reports, a group of Tory MPs have consistently voted against tenants’ rights including voting down Labour’s amendment to the recent Housing and Planning Bill which would have required landlords to make their homes “fit for habitation.” Perhaps not surprisingly, the 72 Tory MPs who killed the legislation also just happened to be commercial landlords themselves.

… The organisation responsible for maintenance and safety at the social housing block is the Kensington and Chelsea Tenant Management Organisation (KCTMO).
… far from being a tenant-run company, the ‘TMO’ are actually a private company … ‘manages’ 10,000 properties… with handsome salaries and fees for selected executives and contractors. Although Grenfell Tower is owned by the Borough Council of Kensington and Chelsea, the management of the tower block is subcontracted out to the TMO.

… Last year, the KCTMO was paid £11million ($14 million) in taxpayer money to manage Grenfell Tower.