The final funding structure to purchase approximately 104 Affordable Housing units at Clay Farm.

Matter for Decision:  

The report presented the final scheme submitted for planning approval on the Quad development at Clay Farm; the cost of the Affordable Housing (AH) and how it could be funded.

 

The report highlighted the options available for funding the AH scheme through Homes and Communities Agency grant, the opportunity to invest capital receipts from the Right to Buy (RTB) programme and borrowing.

 

In addition to the funding of this AH scheme, shared ownership is introduced as a tenure within the AH to create a mixed and balanced community.

 

Decision of Executive Councillor for Housing:

 

The Executive Councillor resolved:

 

       i.          To note the scheme submitted for the planning application.

 

     ii.          To note the cost of the AH and approve the total budget for the scheme.

 

   iii.          To approve that Shared Ownership will comprise no more than 25% of the AH delivered on the Quad development.

 

   iv.          To approve that delegated authority be given to the Director of Customer and Community Services following consultation with the Executive Councillor for Housing, Chair and Spokes to agree the final funding structure for the delivery of the Affordable Housing on the Quad development, once there is more certainty regarding anticipated future Right to Buy receipts and the availability of HCA grant funding to the Council.

 

Reason for the Decision:

As set out in the Officer’s report.

 

Any Alternative Options Considered and Rejected:

Not applicable.

 

Scrutiny Considerations:

The Committee received a report from the Head of Strategic Housing regarding the Scheme Specific Approval for the Quads (Council Land at Clay Farm).

 

The Committee expressed support for the quality of the design of the scheme. The Committee agreed that intermediate housing to be delivered as shared ownership, was an important part of the tenure mix of the scheme. 

 

The Committee resolved unanimously to endorse the recommendations.

 

The Executive Councillor approved the recommendation.

 

Conflicts of interest declared by the Executive Councillor (and any dispensations granted)

Not applicable.

 

***See below for record of delegated Officer’s Decision –

additional information published on 5 December 2014***

 

 

Decision(s) taken:	Funding structure agreed and as part of HRA mid-year budget review.
Decision of:	Director of Customer and Community Services
Date of decision:	16/10/14 – at the Community Services Scrutiny Committee
Matter for Decision:	Delegated authority given to the Director of Customer and Community Services following consultation with the Executive Councillor for Housing, Chair and Spokes to agree the final funding structure for the delivery of the Affordable Housing on the Quad development, once there is more certainty regarding anticipated future Right to Buy receipts and the availability of HCA grant funding to the Council.
Any alternative options considered and rejected:	No
Reason(s) for the decision including any background papers considered:	N/A
Conflicts of interest and dispensations granted by the Chief Executive:	If you consider that any councillor consulted when being asked to take a decision has a conflict of interest, you should consult Simon Pugh, Head of Legal Services for advice as a dispensation granted by the Chief Executive for the councillor may be arranged.
Other Comments:
Reference:	14/11/CS Scheme Specific Approval - Quads (Council Land At Clay Farm)
Contact for further information:	Alan Carter – Alan.Carter@cambridge.gov.uk or 01223 457948