Social Housing Development Opportunities Report
To consider the report of the Director of City Development.
Additional documents:
Decision:
Agreed:
RECOMMENDED that Council:-
(1) note the content of the report and the funding arrangements to move the various schemes forward;
(2) approve a budget totalling £2.5 million to deliver the final phase of the Laings project, including the purchase of one privately owned property;
(3) approve a budget totalling £1,250,000 to progress the schemes (Chestnut Avenue, Lower Wear Road, Clifford Close and Build Up) to the next work stage as reported at the meeting;
(4) agrees that the repurposing of the Rennes House refurbishment budget be used for the redevelopment design and site investigations work for Rennes House, as approved at Council on 22 February 2022; and
(5) grant delegated authority to the Director Finance (Section 151 Officer) and the Director City Development in consultation with the Leader of the Council, to finalise the most advantageous combination of borrowing, capital and S106 commuted sums and allow for the capital borrowing to be undertaken at the most beneficial moment for the Council.
Reason for Decision: As set out in the report and amended at the meeting.
Minutes:
The Executive received the report which brought together a number of development projects requiring funding for progression. Each project was outlined in the report with all projects requiring additional funding beyond that previously agreed in order to deliver completed schemes.
Members were advised that there were six projects and the first project outlined in the report was seeking additional funding for completion. The remaining projects were in development and waiting implementation.
Councillor Jobson, as an opposition group leader, had submitted questions, which were tabled at the meeting and appended to the minutes.
The Leader requested, going forward, that a means of redacting reports be undertaken, to ensure the projects were presented in the public domain to make residents aware of the work being carried out.
The Leader moved and was seconded by Councillor Wright, to amend recommendation 2.4 in the report to read as follows:-
That the decision is delegated to the Director Finance (S151 Officer), and the Director City Development in consultation with the Leader of the Council, to finalise the most advantageous combination of borrowing, capital and S106 commuted sums and allow for the capital borrowing to be undertaken at the most beneficial moment for the Council.
RECOMMENDED that Council:-
(1) note the content of the report and the funding arrangements to move the various schemes forward;
(2) approve a budget totalling £2.5 million to deliver the final phase of the Laings project, including the purchase of one privately owned property;
(3) approve a budget totalling £1,250,000 to progress the schemes (Chestnut Avenue, Lower Wear Road, Clifford Close and Build Up) to the next work stage as reported at the meeting;
(4) agrees that the repurposing of the Rennes House refurbishment budget be used for the redevelopment design and site investigations work for Rennes House, as approved at Council on 22 February 2022; and
(5) grant delegated authority to the Director Finance (Section 151 Officer) and the Director City Development in consultation with the Leader of the Council, to finalise the most advantageous combination of borrowing, capital and S106 commuted sums and allow for the capital borrowing to be undertaken at the most beneficial moment for the Council.