The Cabinet Member with the Economy Portfolio introduced the report of the Chief Executive (previously circulated) requesting that consideration be given to funding the purchase of additional nutrient neutrality credits from Natural England in order to satisfy planning permission and to build out the whole of Site C, Neasham Road, of 144 new homes.
The submitted report stated that approval was obtained in July 2023 to dispose of Site C to the Council’s Joint Venture (JV) partner, Hurworth Gardens JV Ltd for the development of 144 new homes (Minute C25/Jul/23 refers); contracts had been completed and work started on site; Natural England had previously advised that the nutrient neutrality credits obtained by the Hurworth Gardens JV Ltd were sufficient to build out the whole site of 144 new homes; the methodology for the assessment of credits had changed and Natural England had advised that credits obtained were only sufficient to build out 51 new homes and that additional credits for the remaining 93 new homes would be required; planning permission was granted on this basis; and that additional credits would need to be obtained to complete the development.
Particular reference was made at the meeting to the financial risks and whether those risks would be shared with the JV Company or whether they would sit with the Council. The Cabinet Member with the Economy Portfolio responded thereon.
RESOLVED - That the purchase of additional nutrient neutrality credits required to build out the remainder of the houses at Site C, Neasham Road, as set out in Appendix 1 of the submitted report, be agreed.
REASON - To contribute to the delivery of new housing to satisfy the Borough’s housing need.