That Cabinet:

1.    Approved the inclusion of a budget of £63.3m equity for the scheme together with a budget of £50.5m for potential land acquisition/CPO costs within the proposed HRA capital programme that will be considered by Cabinet in February 2018 in the annual rent setting and capital programme report and this is recommended to Council for final approval in February 2018.

2.    Agreed to award Preferred Bidder status to BIDDER C. Subject to the approval of the required budget and funding at recommendation 1 above, that Cabinet:

3.    Agreed to establish a JVLLP for the purpose of meeting the Council’s regeneration objectives for the 12 HRA sites by entering into a Members’ Agreement with BIDDER C on the basis of the Business Case and Legal Summary contained in the Exempt Agenda Report.

4.    Agreed to delegate to the Lead Member for Housing, after consultation with the Director of Neighbourhoods, the authority to agree the name of the JVLLP, negotiate the final detailed terms of the agreements being entered into, and authority to agree that the Council enter into the following agreements:

 Members’ Agreement;

 Development Agreement;

 Any ancillary agreements or documents necessary to give effect to the setting up of the JVLLP in accordance with this Report and its appendices (including the Legal Summary appended to the Exempt Agenda Report).

5.    Authorised the JVLLP to enter into the Development Management Agreement with BIDDER C when in agreed form.

6.    Agreed to delegate to the Lead Member for Housing, after consultation with the Director of Neighbourhoods, authority to finalise agreement on the terms of the Development Management Agreement referred to in recommendation 5 on behalf of the Council as Member of the JVLLP established in accordance with recommendation 4.

7.    Agreed to delegate to the Lead Member for Housing, after consultation with the Director of Neighbourhoods, authority to approve the first Business Plan of the JVLLP on behalf of the Council.

8.    Authorise the disposal of land to the JVLLP on the terms set out in this report, subject to the approval of the Secretary of State where required, (as detailed in the Land disposal paragraphs of the Legal Implications section of this report) and agree to delegate authority to the Lead Member for Housing, after consultation with the Director of Neighbourhoods, the authority to finalise the terms of such disposals.

9.    Authorised the Director of Neighbourhoods to consider the appropriation of land for planning purposes, subject to agreement of the Secretary of State, to facilitate the redevelopment of the 12 Sites and approve an application to the Secretary of State for appropriation under section 19(2) of the Housing Act 1985 and potentially appropriate back to housing purposes all or part of the land as may be considered appropriate in due course. (The precise areas of land to be appropriated to be decided by the Director of Neighbourhoods).

10. Recommends to full Council to make an application to the Secretary of State, where required, for the disposal of property and land  ...  view the full decision text for item 28

Councillor Damian White, Cabinet Member for Housing and Deputy Leader of the Council, introduced the report

In June 2016 and October 2016, Cabinet received reports regarding increasing the amount of affordable homes through the HRA and a Review of Older Persons Housing. As a result of the information provided to  ...  view the full minutes text for item 28