Decision details

AGREE that Cabinet:

a)       as landowner, promotes a scheme which will deliver 207 units with an initial split of 133 market and 74 social units;

b)      alongsidethis, continueto negotiatewith Homes England to maximise the affordable housing on the scheme through grant funding and a further report will be brought forward at the appropriate time;

c)       increase the HRA Capital budget by xx (financed by the Major Repairs Reserve) to xx to allow for future inflation and contingency;

d)      the Revenue loss of xx due to the change from Affordable Rent to Social Rent and a reduction in units from 100 to 74 be noted; and

e)       give delegated authority to the Director - Housing, Health & Wellbeing in consultation with the Director – Resources / S151 Officer and Portfolio Holder for Housing to negotiate and enter into the development agreement and subsequent JCT agreements, subject to planning permission, costs remaining withinthe approvedbudget envelopeand risk profile.