A report seeking spend approval for Local Authority New Build, Phase 4.

Further to Minute 6 of the meeting held on 6 July 2021 the Director of Economic Growth and Neighbourhood Services submitted a report which gave an update on Phase 4 of the Local Authority New Build (LANB) and Acquisitions Programme and sought spend approval of £29.8m to continue the delivery of this phase.

The report explained that, to date, the new build and acquisitions scheme had delivered 234 new homes to the Council’s housing stock, of which 43 were purchases of properties.  Approvals were in place to build a further 211 new homes which were due for completion within the next three years.  The report also set out the current shortlist for Phase 4 which would total 87 properties and explained that the final appraisal and funding bid could not be completed until detailed designs had been developed and planning approval obtained.  The report also proposed that a small programme of property acquisitions, often from within the existing Council-owned (HRA) flatted blocks, would continue.

The reported stated that there was a possibility that not all of the sites on the shortlist would be developed at this time and a financial appraisal of each development would be completed to ensure that it was cost-neutral or provided a positive return to the Housing Revenue Account.

Resolved -

(1)      That the spend of £29.6m to continue the delivery of Phase 4 of Local Authority New Build and Acquisitions Programme be approved;

(2)      That the Assistant Director of Housing and Communities, in consultation with the Lead Councillor for Housing, the Leader of the Council, the Assistant Director of Legal and Democratic Service and the Director of Finance, be authorised to agree the specific funding arrangements for each of the sites referred to within the spend approval and restrictions set out in the report.