Issue - meetings

To consider the report of the Cabinet Member for Homes and Culture seeking approval to progress the redevelopment of the former Oakland’s School site for the provision of new homes.

Report of the Cabinet Member for Homes and Culture seeking approval to progress the redevelopment of the former Oakland’s School site for the provision of new homes. 

RESOLVED

(i)  To appropriate the Former Oaklands School site from the General Fund to the Housing Revenue Account in order to develop the scheme outlined in this report.

(ii)  To approve the addition of £18.3m to the Housing Revenue Account Capital Programme, and the expenditure of £18.3m on the Former Oakland’s School Site to deliver a scheme of affordable council rented and shared ownership properties. To be funded from £10.9m borrowing, £2.9m retained Right-to-Buy capital receipts and £4.5m from the sale of the initial percentage of shared ownership properties.

To consider the report of the Cabinet Member for Homes and Culture seeking approval to progress the redevelopment of the former Oakland’s School site for the provision of new homes.

DECISION MADE: (CAB 19/20 24061)

On consideration of the report of the Cabinet Member Homes and Culture, Cabinet agreed the following:

Subject to the financial approvals of Council, to delegate authority to the Director of Growth following consultation with the Cabinet Member for Homes and Culture, the Service Director Finance and Commercialisation and the Service Director Legal and Governance to:

·  deliver a scheme in accordance with the financial parameters of  this report

·  approve the submission to Homes England

·  agree detailed terms and conditions

·  enter into a contract with a construction company

·  appoint a specialist Shared Ownership expert to deal with sourcing purchasers and delivering  sales

·  take any other actions required to give effect to this decision

·  agree the final tenure mix prior to practical completion