Issue - meetings

The Chairman introduced the report which outlined the proposals for developing the Northway/Fairway site.

Following consideration of the item, the Chairman moved to vote on the officers’ recommendations as outlined in the report.

The votes were recorded as follows:

RESOLVED that the Committee:

1.    Noted progress to date in respect of the proposals for the development of the Northway/Fairway (“the Site”) delineated at Figure 1 paragraph 1.4 below.

2.    Approved the proposed sale and leaseback approach to the development of the site.

3.    Approved the Kuropatwa Group as the preferred developer for the delivery and sale and leaseback approach on this Northway/Fairway site.

4.    Delegated authority to the Deputy Chief Executive acting in the best interests of the Council and in consultation with the Chairman of the Housing and Growth Committee to:

·         agree the final terms for the proposed transaction,

·         negotiate finalise and complete the terms of the required documentation to be entered into with Kuropatwa Group (including companies within that group) to give effect to the agreed final terms as referred to above,

·         to negotiate, approve, finalise, and complete such other documents as may be required to effect implement fund deliver and/or manage the scheme.

·         approve and conclude the exchange of an agreement for lease and Leaseback to be entered into with an appropriate company within Kuropatwa Group subject to such agreement being compliant with the Council’s statutory obligation to obtain the best price reasonably obtainable as evidenced by an independent valuation;

5.    That subject to approval from the Policy and Resources Committee the Committee approved the creation of a management company (ManCo) by the Council for the ongoing management of the completed units at the Site and to enter into the proposed sub-underlease with the Council as outlined at paragraph 3.8.

6.    Approved that, if planning permission is received for the development, the Deputy Chief Executive (acting in the best interests of the Council and in consultation with the Chairman of the Housing and Growth Committee) be authorised to approve the final red book valuation for the site.

7.    (i) Approved the advertising as required to appropriate to the required use or to appropriate to planning purposes any part of the Site deemed or designated as Public Open Space in accordance with S122(2A) of the Local Government Act 1972 and (ii) delegated to the Deputy Chief Executive the consideration of any objections received following the conclusion of the above advertising process.

8.    Delegated to the Deputy Chief Executive if appropriate following the conclusion of the consideration of any objections to advertise pursuant to s 123(2A) of the LGA 1972 or s 233 of the Town and Country Planning Act 1990 the disposal of any land referred to at 7 above which is to be comprised as part of the Site.

9.    That subject to paragraph 7 the Committee delegated authority to the Deputy Chief Executive to authorise that the whole or any part of the Site as  ...  view the full minutes text for item 15

The Chairman introduced the report which provided an update on delivery of the project to date.

The Assistant Director of Development and Economy explained that over the last year, it had become increasingly difficult to sell leasehold houses and this would continue following the emerging legislation through the leaseholder’s bill. Therefore, the committee was being asked to approve the transfer of the freehold interest in 17 shared ownership houses to Sage Housing Limited. This would mean that once shared owners had staircased to owning 100% of their property they would be freeholders of their homes.

Followingconsiderationofthe item,theChairmanmovedto voteon theOfficer’srecommendationsas outlined in the report.

The committee unanimously noted the progress made on delivering the project to date.

Votes on the second recommendation, were recorded as follows:

RESOLVED that the committee:

1)    Noted the progress made on delivering the project to date.

2)    Agreed to the transfer of the freehold interest in the 17 shared ownership houses to Sage Housing Limited and delegates authority to the Director of Growth to agree finalise and enter into (1) a deed of variation to the existing Development Agreement with Sage Housing Limited dated 12 March 2021 and (2) any ancillary documents that may be required, in order to give effect to this