Decision:
a) notes the progress and expected completion of the current HRA Development Programme;
b) allocates £234,747.64 from Section 106 contributions (as detailed in section 2.16 of the report) to development sites at South Crescent, Clipstone; Firview, Ollerton; and Gaitskell Crescent, Edwinstowe as part of Phase 5 of the HRA Development Programme therefore reducing the required borrowing by an equivalent amount;
d) commits the total of £1.292m from the Section 106 agreements listed at section 2.21 of the report to the new development programme within the obligations of the S106 agreements.
Minutes:
The report proposed the allocation of S106 affordable housing contributions to three sites which would provide additional affordable one bed bungalows, and set out plans for the future programme to build new housing, which included a smaller discreet development programme of up to 50 units being brought forward subject to capacity and affordability.
AGREED (unanimously) that Cabinet:
a) notes the progress and expected completion of the current HRA Development Programme;
b) allocates £234,747.64 from Section 106 contributions (as detailed in section 2.16 of the report) to development sites at South Crescent, Clipstone; Firview, Ollerton; and Gaitskell Crescent, Edwinstowe as part of Phase 5 of the HRA Development Programme therefore reducing the required borrowing by an equivalent amount;
d) commits the total of £1.292m from the Section 106 agreements listed at section 2.21 of the report to the new development programme within the obligations of the S106 agreements.
Reasons for Decision
To provide confidence in the ongoing delivery of the HRA Development Programme, securing value for money secured through the programme and the outcomes delivered to against the community plan objectives to create more and better-quality homes through our roles as landlord, developer and planning authority.
Options Considered
The completion of the HRA development programme, without the introduction of a future programme, was considered but discounted in recognition of the impact that a net loss of housing (through annual right to buy numbers) would have on the ongoing viability of the HRA 30 Year Business Plan.
A pause in the programme was also discounted as this would risk losing the in-house skills and experience that have been built up over the last five years.