Decision details

1.         To delegate authority to Deputy Chief Executive – Corporate Development (S151 Officer), in consultation with Portfolio Holder for Assets and Planning, to approve the increased cost as shown in Appendix A (relating to tranche three of a development scheme) from the approved capital programme in accordance with the HRA Housing Delivery Framework.

2.         To delegate authority to Deputy Chief Executive – Corporate Development (S151 Officer) to agree any contractual matters (including any terms and conditions which may represent a minor variation to the scheme set out in this report) such as signing the supplementary agreement to the existing contract, utilising RTB sales receipts for this project and other incidental actions that may be required, in consultation with the Portfolio Holder for Assets & Planning.

3.         To note and support the decision of Cabinet in October 2019, which delegated authority to the S.151 Officer to agree the contractual matters and associated due diligence and valuation required to purchase the properties and to complete matters relating to the marketing and sale of the shared ownership properties included within the acquisition.

To support the delivery of new affordable homes in the district.

Not to increase the purchase price beyond the contractual position. This option was not preferred because build costs have increased, and the developer has indicated that they are unable to deliver the homes for the contract price. The revised contract price will still provide a positive return on investment from this scheme.

None