Decision details

The Head of Regeneration and Housing submitted an exempt report which followed up to the report submitted to the February meeting of Executive and sets out the Build! ® Programme phased delivery.

Resolved

(1)          That agreement be given to the Council taking on the role of developer for the first 200 homes of the Council’s Build! ® programme subject to resolution (6).

(2)          That agreement be given to sell 66 homes direct to individuals on an equity loan basis subject to resolution (6).  These will be on the sites set out in the exempt minute.

(3)          That agreement be given to sell 49 homes on a shared ownership basis, with the unsold shares being transferred to Cherwell Community Land Trust (CCLT), on the basis that the Council receives 100% income from first sales and future stair casing receipts up to a cap of 80% subject to resolution (6).  This will also be subject to CCLT :

·           Confirming their intent to acquire these homes and re-invest any receipts back into affordable housing within Cherwell.

·           Securing Registered Provider Status with the Homes and Communities Agency (HCA)

·           Producing a robust business plan to evidence capacity to successfully own and manage the homes.

·           Securing sufficient external finance to support the acquisition.

These will be on the sites set out in the exempt minute.

(4)          That agreement be given to sell 30 homes (for affordable rent) to CCLT subject to resolution (6). This will be subject to CCLT:

·           Confirming their intent to acquire these homes and re-invest any receipts back into affordable housing within Cherwell.

·           Securing Registered Provider Status with the Homes and Communities Agency (HCA)

·           Producing a robust business plan to evidence capacity to successfully own and manage the homes.

·           Securing sufficient external finance to support the acquisition.

These will be on the sites set out in the exempt minute.

(5)          That officers be requested to submit a further report setting out recommendations for:

·           The final ownership and management arrangements for the remaining 55 units in the Phase One Build! ® Programme

·           The delivery and ownership options for the 62 units in the Phase Two Build! ® Programme

(6)          That authority be delegated to the Director of Resources and the Head of Law and Governance in consultation with the Head of Regeneration and Housing, Head of Finance and Procurement, Lead Member for Financial Management, Lead Member for Housing and Lead Member for Regeneration to make the final decisions on all aspects of this report (exempt annex to the minutes as set out in the Minute Book) once they have considered the outcome of the necessary financial and legal due diligence that is currently taking place.

(7)          That increased delegated authority to the Procurement Steering Group in consultation with the Head of Regeneration and Housing and the Lead Member for Financial Management to award contracts up to the value of £3m for the Build! ® programme to enable delivery on schedule subject to resolution (6) be approved.

Reasons

As set out in the exempt minute.

Alternative Options

As set out in the exempt minute.