The Head of Housing and the Major Projects Service Manager submitted a report (previously circulated, now appended).

Resolved, having regard to the not for publication appendix to the report, to:-

(1)               Note the contents of the Report and progress in discussions with Barton Oxford LLP;

(2)               Grant delegated authority to the Executive Director, City Regeneration and Housing in consultation with the Head of Finance to authorise the Council’s entry into required legal documentation with Barton Oxford LLP to give effect to this matter, the terms to be consistent with the contents of the Not For Publication Appendix in relation to:-

(a)               Approval to enter into an Agreement to purchase the affordable housing (354 units approximately) noting the intention that the Agreement be novated to the successful / nominated house builders for each phase of development;

(b)               The entering into a Management of Homes Agreement;

(c)               The entering into an Allocations and Lettings Agreement;

(3)               Note that in order to maintain flexibility going forward the Council may, at its discretion at a point in the future, procure a partner (such as a Registered provider) for up to 25% of the total affordable units;

(4)               Note that Officers will present update and monitoring reports on a regular basis to both the Corporate Asset and Capital Board and the City Executive Board as the project progresses.