Issue - meetings

To set out details of the potential for the authority to acquire 18 s106 affordable homes on a development site in the district (report of the Assistant Director – Strategic Growth and Development enclosed).

Consideration was given to the report of the Assistant Director – Strategic Growth and Development, which set out details of the potential for the authority to acquire 18 s106 affordable homes on a development site in the district.

Members requested that the planning application number relating to the acquisition be provided and it was agreed that this would be circulated.

Members advised that there was no requirement for discussion of the information within the exempt appendix, and there was therefore no need for the meeting to go into private session.

RECOMMENDED TO COUNCIL:

1)    To approve the business case, and the acquisition of 18 affordable homes within Holbeach, for the HRA; and

2)    To delegate to the Deputy Chief Executive (Corporate Development) and S151, 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, and to identify this scheme as a named scheme in the capital programme, in accordance with the approved budget.

(Other options considered:

·         Do nothing - In this event the authority would not proceed to purchase the properties.  As a consequence, the expected benefits set out in section 5 of the report, would not be realised. Officers would seek to identify alternative, appropriate schemes for consideration by the Executive or Council.

Reasons for decision:

·         To enable new affordable homes to be delivered which meet identified housing need in the district.

·         To provide a return on investment as set out in the financial evaluation provided at Appendix A.

·         To replace homes sold to tenants via Right To Buy.)

(The Leader left the meeting at the start of consideration of this item and returned following discussion of it).