Purchase of completed development sites at Elsfield Hall, Cumberlege Close and Between Towns Road
Decision Maker: Assistant Chief Executive
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
To authorise the transfer by purchase by Oxford City Council of the extensively refurbished 3 bedroom house, new build 3 and 5 bedroom house delivered through the OCHDL Extensions programme. Contributing to the Councils overall Affordable Housing provision.
To authorise the transfer by purchase of the land and affordable housing at Elsfield Hall, Cumberlege Close and Between Towns Road from Oxford City Housing (Development) Limited for the Council’s Housing Revenue Account.
For OCH(D)L to enter into a build contract to construct 73 homes over three sites at Between Towns Road, Cumberlege Close and Elsfield Hall to include 56 affordable homes (33 rented and 23 shared ownership homes) it required the Council to confirm the purchase price of these homes and commit to their purchase in order to proceed. The three sites are being dealt with as a single entity in this report to reflect that they are being built under a single construction contract to achieve economies of scale. It is important to note that they will complete at different times and payment for the affordable homes will be staggered accordingly. Constant reporting of the expected completion dates will take place to ensure the Council has full visibility and notice of when the payments will be required.
Viability appraisals have been carried out for the transfer of these homes to the Housing Revenue Account (HRA) which show that the scheme is within the parameters set for the HRA.
Alternative options considered:
To not agree to the purchase would represent a missed opportunity to deliver affordable housing.
Signed off by senior officers:
Caroline Green, Assistant Chief Executive.
Publication date: 22/07/2020
Date of decision: 11/11/2019
Effective from: 25/07/2020