Issue - meetings

Cabinet welcomed the report and noted that 133 new genuinely affordable homes will be provided at Edith Summerskill, 80% of which will be social rent with the remainder let as sub-market intermediate rent.  In addition, 36 new genuinely affordable homes would be built at Watermeadow Court, 27 of which will be social rent with the remainder let as sub-market intermediate rent, or sold as low-cost home ownership.

The Leader noted that the Council was proud it had been able to obtain additional resources from developers through tough negotiations to fund public sector housing in the current economic climate.

Cabinet thanked the Growth and Place leadership team for their hard work on this scheme.

That Cabinet:

·              Resolves that the areas of land at Watermeadow Court and Edith Summerskill House referred to in this report and shown edged red on the plans at appendix 1 are no longer required for the purpose for which they are currently held (housing purposes).

·              Approves the appropriation of these areas of land to the planning purposes of facilitating redevelopment for residential and other uses pursuant to section 122 of the Local Government Act 1972.

·              Authorises the Strategic Director for Growth to apply to the Secretary of State for consent to the appropriation pursuant to Section 19(2) Housing Act 1985.

·              In the event that the consent of the Secretary of State is given authorises the use of powers to override easements and other rights in respect of the land pursuant to section 203 of the Housing and Planning Act 2016.

·              Approves to vire £30,000 to create a specific budget for this work from the unused contingency budget for Edith Summerskill House, approved by amended Cabinet Member Decision in Feb 2017, following original Cabinet approval dated 08/02/16 in relation to the Joint Venture vehicle.

·              Approves the movement in the Capital Financing Requirement of up to £3.8 million from the Housing Revenue Account to the General Fund for Edith Summerskill House, and to note that this will result in an additional budget requirement in the General Fund from 2019/20 of £123,000 to fund the associated Minimum Revenue Provision.