Agenda item

Report of the Director of Economic Growth and Neighbourhood Services

The Cabinet Member with the Economy and Regeneration Portfolio introduced the report of the Director of Economic Growth and Neighbourhood Services (previously circulated) reporting the progress made following the acquisition of the land at Neasham Road; requesting that consideration be given to engaging the services of Esh Homes Limited to facilitate an early planning application for the site and incur the associated costs; and seeking in principle approval to dispose of part of the site to the Esh Joint Venture and part of the site to a Registered Provider, with detailed terms being reported back to Cabinet in the future.

The submitted report outlined the background to the proposals; the land and property advice received; proposed fees and costs of planning application; legal and financial implications; and the risks associated with the proposals.

RESOLVED – (a)  That the costs identified in Appendix 2 of the submitted report and the release of the funding necessary to appoint Esh and the relevant providers to undertake the specified work required to submit the planning application, be approved, with the costs to be funded from the Economic Growth Investment Fund.

(b)  That the in principle disposal of part of the site to the Esh/Council formed Joint Venture Company and part to a Registered Provider with terms to be reported to Cabinet in due course, be agreed.

(c)  That the Assistant Director – Law and Governance be authorised to execute the necessary documents to facilitate future development.

REASONS – (a)  To provide a site capable of contributing to the delivery of Council Housing Stock and other affordable/social homes to satisfy the Borough’s housing need.

(b)  To achieve a capital receipt for the Council from a private developer as well as securing funding from Homes England and increased Council Tax receipts from approx. 450 new homes.