Issue - meetings

The Deputy Chief Executive gave a summary of the report and reminded Members that this had initially been reported back in September 2017.  This report provided an update on the position regarding the funding available together with a detailed options table.  The Cabinet was informed that a positive bid had been made to Homes England, which had been successful with a figure to be agreed, but which was likely to be around £1m.

The funding would be spent in preparing the site for housing development and it was imperative that this was carried out as soon as possible.  The suggested plan was for 61 units using modern building methods with a Council owned housing company being set up to manage the site. The proposal included 6 units to be sold on the open market, 18 affordable units for purchase by a housing association and 37 market rent units to be retained and managed by the housing company.

It was confirmed that the Funding Agreement would contain a number of conditions which needed to be satisfied before the funding from Homes England could be released.  Details of the financial modelling were provided within the report, together with details of the financial projections and implications.  It was acknowledged that whilst this was a small site it was still important for the local community and would bring the opportunity to build and develop in the future.

The recommendations within the report would allow Cabinet to build the momentum and be clear about the way forward and the outcome of the of the bid, which would lead to a full business case in respect of the housing company being brought back to Cabinet for consideration in due course.

Following presentation of the report, Members discussed the following areas in more detail:

·         It was a positive starting point and would help to support the needs of residents in the future, whilst providing some much needed income for the Council.

·         Councillor L. Mallett, as Chairman of the Overview and Scrutiny Board, reiterated the concerns which had been raised at its meeting in respect of future opportunities and whether any had been identified.  He suggested that a much longer term plan needed to be in place before a decision could be made.

·         It was difficult for Members to be able to judge whether it was the right thing to do in the long term, without more detailed information.

·         Whether other sites had been identified

·         Whether this development could realistically have an impact on the housing needs of the district.

·         Councillor K, Taylor, Portfolio Holder for Planning and Strategic Housing advised that this was in fact the beginning of a journey and it was hoped that it would provide an opportunity to provide accommodation at a “fair” rent for local residents. 

·         The business case for the housing company would provide more detail, together with long term future plans.

·         In respect of the suggested preferred model, Members were assured that following discussions with Homes England they were comfortable with  ...  view the full minutes text for item 39