Issue - meetings

Matter for Decision: Approval of the conditional disposal of Site K1 to an enabling development partner and delegated authority to the Head of Property Services to accept an offer for the site.

 

Decision of the Executive Councillor:

 

The Executive Councillor resolved to:

 

i.       Approve the conditional disposal of Site K1 as set out in paragraph 3.8 of the officer’s report.

 

ii.     Delegate authority to the Head of Property Services in consultation with the Executive Councillor for Customer Services and Resources, the Chair and Opposition Spokesperson for Strategy and Resources Committee to accept an offer for Site K1, Orchard Park.

 

Reasons for the Decision: As set out in the officer’s report

 

Any alternative options considered and rejected: As set out in the officer’s report

 

Scrutiny Considerations:

 

The committee received a report from the Head of Property Services.

 

In response to member’s questions the Head of Property Services said the following:

 

i.                 Extensive marketing of the scheme had been undertaken resulting in 36 very committed cohousing members. The waiting list had now been closed.

ii.               Not all of the 36 cohousing members interested in Site K1 were based in the Cambridge area.

iii.             37 units were currently proposed but this could rise.

iv.             The completed units would be sold to cohousing members by way of a long lease and this would be managed by a resident’s management company or similar.  

v.              A formal governance structure was in place and managed by the cohousing group themselves. Meetings are held every 2 weeks to discuss how the scheme will operate. 

vi.             Due to the VAT implications the Council had to involve a Development Partner.

vii.           Potential Developer Partners would benefit from having a readymade pool of buyers already committed to the scheme.

viii.         The Development Partner would have to work to a design brief agreed by the cohousing group.

ix.             Cohousing members were required to pay an initial £100 for an expression of interest and this rose to £250 from September 2013. Moving forward they would pay relevant deposits etc as part of the usual processes for buying a house ‘off plan’.

x.              Whilst the site would be initially marketed at offers above £3m the market would determine its final price.

xi.             Extensive marketing and a two stage selection process would ensure the best Development Partner is appointed.

 

The Executive Councillor, supported by Councillor Cantrill, emphasised that whilst the Council would seek to maximise the revenue from this site, other considerations such as the need to build a cohesive community would be a factor.  

 

The Scrutiny Committee considered the recommendations and endorsed them unanimously.

 

The Executive Councillor approved the recommendation.

 

Conflicts of Interest Declared by the Executive Councillor (and any Dispensations Granted):

 

Not applicable.