Issue - meetings

[To approve entering into a contract agreement with WV Living to purchase affordable units on Northicote development site]

1.      That the purchase of 29 homes for affordable rent and 16 homes for shared ownership units from WV Living on the Northicote housing development site through a standard form of development agreement at the agreed purchase as detailed in exempt Appendix 1 to the report be approved.

2.      That approval be granted to enter into contract using a standard form of development agreement between the Council and WV Living including staged payments as detailed in exempt Appendix 2 to the report.

3.      That Chief Operating Officer or other authorised officers be authorised to execute the contract agreement, transfers, associated wayleave agreements, deed of easements, deeds of grant, collateral warranties together with any ancillary agreements.

Mark Taylor, Deputy Chief Executive left the meeting whilst Cabinet considered this item.

Councillor Bhupinder Gakhal presented the report on a proposal to purchase 29 affordable rents and 16 shared ownership units on the Northicote development site from WV Living. Once the 45 affordable housing units are completed the properties would be allocated through Homes in the City choice based letting system.  The marketing of the shared ownership units would be managed through an appointed Sales and Marketing Agent. The purchase of the affordable rents units would meet the objectives within the Council’s Plan Better Homes for All and the Housing Strategy’s More and Better Homes by increasing the number of additional affordable housing to meet the house demands within the city. The purchase of the shared ownership units would provide an opportunity for residents to access low cost home ownership.

Resolved:

1.    That the purchase of 29 homes for affordable rent and 16 homes for shared ownership units from WV Living on the Northicote housing development site through a standard form of development agreement at the agreed purchase as detailed in exempt Appendix 1 to the report be approved.

2.    That approval be granted to enter into contract using a standard form of development agreement between the Council and WV Living including staged payments as detailed in exempt Appendix 2 to the report.

3.    That Chief Operating Officer or other authorised officers be authorised to execute the contract agreement, transfers, associated wayleave agreements, deed of easements, deeds of grant, collateral warranties together with any ancillary agreements.