Cabinet, on 29 May 2019, (‘The future strategic direction for the Council’s group of housing companies’) resolved to:

6. Agree that delegated authority is given to the Assistant Chief Executive in consultation with the Head of Finance and the Head of Law and Governance to approve and facilitate the agreed purchase by the HRA of all affordable housing units at the OHCL development sites.

To authorise the transfer by purchase of the land and affordable housing at Elsfield Hall, Cumberledge Close and Between Towns Road from Oxford City Housing (Development) Limited to the Council’s Housing Revenue Account for a consideration of £25,430,800 in total.

To support the delivery of affordable housing. The sites at Cumberlege Close and Elsfield Hall are joint in terms of planning and viability.

The viability appraisals undertaken show that the schemes are within the parameters set for the Housing Revenue Account.

The purchases are supported by £1.52m and £1.46m of Oxfordshire Growth Deal Affordable Housing grant and £722,000 and £320,000 of Section 106 top-up grant.

Not to transfer the properties would represent a missed opportunity to deliver affordable housing and support the delivery of the OCHL business plan.

Decision taken by Stephen Gabriel, Executive Director (Communities and People) in consultation with Nigel Kennedy, Head of Financial Services and Susan Sale, Head of Law and Governance.