Having agreed to note the confidential appendices to the report, Cabinet
(1) entering into a 45-year lease for the proposal for new homes set out in the officer report and exempt Appendices, be approved in principle;
(2) the Corporate Director of Community, following consultation with the Portfolio Holder for Housing, the Portfolio Holder for Strategy, Regeneration, Partnerships and Devolution and the Portfolio Holder for Finance and Resources, be authorised to finalise negotiations with the developer and enter into the Legal Agreements subject to the final terms being evidenced to represent the optimum deal for the council and value for money;
(3) the Corporate Director of Community, following consultation with the Portfolio Holder for Finance and Resources and the Portfolio Holder for Housing, be authorised to determine the long-term council ownership model for the Lease;
(4) the Corporate Director of Community, following consultation with the Portfolio Holder for Housing, be authorised to retain consultants to advise on the final negotiations and others as necessary to provide technical support to the council in delivery of the project, the costs to be contained within existing budgets.
Reason for Decision: To secure additional housing to assist in meeting the council’s statutory homelessness obligations and to provide a rental income stream.
Alternative Options Considered and Rejected: As set out in the report.
Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted: None.