Issue - decisions

RESOLVED THAT

1.    Subject to subsequent Council approval, the Authority be authorised to accept the tender received from J Harper and Sons enter into a JCT Design and Build Contract for the construction of up to eight new dwellings with Total Scheme Costs not to exceed £1,405,150.

2.    Authority be delegated to the Head of Property and Asset Management, in consultation with the Borough Solicitor to:

2.1. Conclude the JCT Design and Build contract with J Harper and             Sons.

2.2          Take all necessary steps and undertake all necessary procedures, including entering into any legal agreements or other documentation as may be required to implement or facilitate the developments.

3.    the Authority be authorised to charge Affordable Rents to the 2 and 3 bed properties at 80% of Market Rents and at 70% of Market Rents for the 4 bed dwelling.

Council be recommended to :

4.    Authorise the allocation of up to £1,405,150 for the construction of eight new dwellings.

5.    Note that the Total Scheme Costs of £1,405,150 (broken down in further detail in exempt appendix 3) will be funded by circa £420k of RTB receipts with the balance funded by the most appropriate combination of the other funding streams noted within the report – this decision being delegated to the Section 151 Officer in accordance with Financial Rules B7 and B8.

6.    Approves the Authority sourcing loan finance of up to £1.0m from the Public Works Loan Board to be used for the construction of eight new dwellings.