Decision Maker: Portfolio Holder for Strategic Housing, Leisure Centre Delivery and Spalding Town Improvement
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Proposal to purchase homes in Surfleet, from a
1. To approve the business case and approve the acquisition of 12 affordable homes within Surfleet, for the HRA.
2. To delegate to the Assistant Director of Strategic Growth & Development to agree the contractual matters (including the terms and conditions which may represent a minor variation to the scheme approved in the business case) such as signing the contract/transfer document and other incidental actions that may be required, and approving the associated due diligence and valuation required to purchase the properties.
3. To delegate authority to Assistant Director of Strategic Growth & Development to agree the value of shared ownership properties at initial sale, resale, and acquisition of additional shares, for this site and shared ownership properties on other sites.
4. To reprofile the approved HRA capital programme to show this scheme as a named project and amend the budget line for ‘schemes subject to detailed approval’ accordingly.
1. To enable new affordable homes to be delivered which meet identified housing need in the district.
1. To provide a return on investment as set out in the financial evaluation provided at Appendix A.
2. To replace homes sold to tenants via right to buy.
3. To deliver housing solutions which meet local needs and aspirations to ensure that our residents have access to a range of housing options in the district.
4. To ensure the correct delegations are in place to deliver this project.
Do nothing. In this event, the authority would not proceed to purchase the properties. As a consequence, the expected benefits set out in the Reasons for Recommendations section of this report, would not be realised. Officers would seek to identify alternative, appropriate schemes for consideration by the Executive or Council.
Reason Key: Incurring expenditure above £75,000 threshold in respect of revenue/£180,000 in respect of capital;
Wards Affected: Pinchbeck and Surfleet;
Conflict of Interest: None
Dispensation Granted: None
Other reasons / organisations consulted
Ward members consulted
Contact: Caroline Hannon, Head of Delivery Email: Caroline.Hannon@sholland.gov.uk.
Publication date: 20/11/2023
Date of decision: 20/11/2023
Effective from: 28/11/2023