Decision details

To approve funding proposals for St Paul’s Phase 2, Garage sites and Cakebridge Place

RESOLVED that:

(i)         CBH be mandated to secure the best available deal from developers in respect of net construction cost for the three schemes.

 (ii)       CBH can continue contractual negotiations such that early planning submissions can be made in respect of Cakebridge Place and Crabtree Place.

 (iii)      CBH be mandated to act in respect of decanting tenants and securing the freeholds of privately owned properties, in full consultation with affected persons and subject to acceptance of appropriate terms and rehousing options.

 (iv)      The decision with regard to ownership of the developments be delegated to Grahame Lewis, Executive Director, in consultation with the Cabinet Member Housing & Safety, Section 151 Officer and CBH following receipt of legal advice.  This decision is to be made prior to any contractual commitment being entered into with any developer.

 (v)       If the decision at (iv) is for CBH to own the completed properties the council will, subject to all necessary consents being received from the Secretary of State, agree to transfer land as required at nil cost (on the assumption that the capital receipt from sales land values at St Pauls will be used to subsidise development costs) and provide financial support through the affordable housing reserve and provide access to PWLB borrowing.