1. That dispose of 282-288 Goldhawk Road and Elizabeth Finn House to Firstwood Investments Lux S.A.R.L, subject to conditions set out in the Heads of Terms, be approved.
2. That the resident engagement to date and proposed programme of resident consultation as set out in this report, be noted.
3. That authority be delegated to the Cabinet Member for Housing, in conjunction with the Executive Director of Housing and Regeneration and Director of Building & Property Management, to finalise the terms of the land sale agreement with Firstwood Investments Lux S.A.R.L, be approved.
4. That the appropriation of 282-288 Goldhawk Road, which is currently held as General Fund Account Land to the Housing Revenue Account, be approved.
5. That net capital received in the Housing Revenue Account from this disposal be used to cover costs incurred and reinvested (so far as lawfully possible) into the provision of housing in the borough or estate improvement, specifically:
· To fund capital expenditure on area-based improvements that help the Council achieve its corporate objectives.
· To develop or acquire new affordable housing to meet identified housing needs, including where appropriate extension of properties.
· To fund tenant incentive initiatives (qualifying as capital expenditure) that free up council housing which is in demand for those in housing need (e.g. for larger family accommodation).
· Subject to the Council ensuring that it’s statutory housing responsibilities to meet housing needs are met, to use receipts to reduce HRA or General Fund debt where this is identified as a priority, and where repayment of the debt is of net financial benefit to the Council’s HRA or General Fund.
· To invest in capital expenditure on planned maintenance of the current LBHF Housing Stock until this is fully funded by the HRA revenue account.