Decision details

The Council is currently moving forward with three strands of direct housing development to deliver additional low cost home ownership opportunities in pursuance of the Council's adopted Housing Strategy. This report presents the housing development programme business plan, for the period 2013 - 2017, to deliver 100 Discount Market Sale and 33 private for sale units across 16 sites.

1.                  That the progress with the three main strands of direct housing development currently being pursued by the Council, set out in section 5 of the report, be noted.

2.                  That approval be given to the Housing Development Programme Business Plan for the period 2013-2017 (appended), based on the Hidden Homes, New Build Innovative Housing (Rational House) programmes, and the additional new build opportunities identified.

3.                  That approval be given for a budget envelope of £30.3m for the period 2013-2017, to be partially funded from the decent neighbourhoods fund and partially funded by sales receipts received throughout the development programme.

4.                  That approval be given to a peak funding requirement from the decent neighbourhoods fund for the whole programme (rolling up in this the previous approvals for Hidden Homes and the Spring Vale pilot scheme which have already set aside £5.7m) of £15.3m.

5.                  That approval be given to revenue funding from HRA reserves for 2014/15 of £1.8m and of £0.3m in addition to previous approvals for 2013/14, with the  intention that in so far as is possible any Section 106 resources available that can reasonably be applied to the programme will be so applied.

6.                  That £2.1m of the funding approved by recommendations 3 to 5 above to be designated for the initial feasibility work required to develop sites in this programme and to delegate authority to the Executive Director of Housing and Regeneration to determine the allocation of this expenditure between individual sites and to appoint the professional teams to carry out this work, be approved.

7.                  That the proposed delivery mechanism to undertake developments directly within the Council, rather than the Local Housing Company SPV, based on the updated legal and financial advice, as set out in section 7 of the report, be approved.

8.                  That the proposed Scheme of Delegation for further funding and scheme approvals, as set out in section 7 of the report within the budget envelope and resources set by recommendations 3, 4 and 5, be approved.

9.                  That the annual updating of the Business Plan and the proposed quarterly reporting cycle to the HFBB and Members, as set out in section 7 of the report, be approved.

10.             That the Executive Director of Housing and Regeneration be authorised to negotiate and enter into contract for a £2.7m grant from the Mayor’s Housing Covenant, be approved.

11.             That authority be delegated to the Cabinet Member for Housing, in conjunction with the Executive Director of Housing and Regeneration, to appoint professional teams as necessary to facilitate delivery of the programme, following completion of necessary procurement processes, be approved.