Issue - meetings

Cabinet recommends that Council approves: -

(a)             The financial strategy for the Surrey rd scheme set out in paragraphs 11 to 21 with specific approval for the use of up to £3.174M new prudential borrowing (the budget) to be repaid over 50 years from the General Fund.

(b)            Subject to Planning consent, the procurement of build works to the inhouse Construction Works Team (subject to their capacity and budget adherence).

(c)             The delegation to Director of Housing in conjunction with the Chief Financial Officer) the authority to enter a contract for build works providing all key parameters (including delivery within approved capital budget) are met.

This scheme(site 17) is one of 44 projects within CNHAS currently being progressed along their development pipeline (refer Background Paper), has been brought forward from programme 5 - ‘Harder to reach’ sites, within the Council New build Housing and Acquisition Strategy (CNHAS) Programme - approved by Cabinet on the 29th of September 2021 and subsequently reviewed every 6 months since.

This 8 Unit scheme was submitted for planning on 22 March 2022 and a  decision is anticipated imminently.

The building works are to be procured directly with the internal Construction Works Team, subject to the capacity and budgets being acceptable- if not we will tender externally.

They will be built using the design & construction principles as set out in the approved 2021 CNHAS Strategy – a ‘fabric first’ approach- to ensure they provide high levels of thermal efficiency, space and amenity and minimise the need for retrospective environmental upgrades in the foreseeable future. Providing sustainable cost-efficient homes, critical at this time.

Cabinet RECOMMENDS that Council approves: -

(a)             The financial strategy for the Surrey rd scheme set out in paragraphs 11 to 21 with specific approval for the use of up to £3.174M new prudential borrowing (the budget) to be repaid over 50 years from the General Fund.

(b)            Subject to Planning consent, the procurement of build works to the inhouse Construction Works Team (subject to their capacity and budget adherence).

(c)             The delegation to Director of Housing in conjunction with the Chief Financial Officer) the authority to enter a contract for build works providing all key parameters (including delivery within approved capital budget) are met.

Voting: Unanimous

Portfolio Holder: The Leader of the Council and Portfolio Holder for Development, Growth, Regeneration and Transformation

Reason

This additional housing will assist in working towards BCP housing targets and the targets within CNHAS. Furthermore, it will provide a substantial investment and income through the provision of a number of Private Rental Homes through the General Fund.