Cabinet, on 14 October 2020, resolved to:

1.    Give project approval to the proposals, to accept and distribute grant; enter into funding agreements; and any other necessary agreements or contracts, as set out in this report for sites at William Morris Close; Gibbs Crescent; and Champion Way, for the purpose of delivering more affordable housing in Oxford, through the Oxfordshire Housing and Growth Deal programme;

2.    Note that the Head of Financial Services proposes to use financial delegations for grant funded capital schemes, to make the initial payment for William Morris Close, by the required deadline;

3.    Note that the budget for further Growth Deal grant payments will be requested in future budget reports;

4.    Delegate authority to the Director of Housing, in consultation with the Cabinet Member for Affordable Housing; the Head of Financial Services/Section 151 Officer; and the Council’s Monitoring Officer, to enter into funding and other necessary agreements for the purpose of delivery affordable housing through the Oxfordshire Housing and Growth Deal programme, within identified budgets, for the schemes listed in this report;

5.    Delegate authority to the Chief Executive, in consultation with the Cabinet Members for Finance and Asset Management, and Affordable Housing, to approve any agreements over £500,000 for affordable housing, within this project approval and budget envelope; and

6.    Recommend to Council that it approves a revision to the general fund capital budget in 2020/21 of £3,123,000, for the initial grant payment in relation to the William Morris Close site, and a further capital budget for 2021/22 of £347,000 to fund the remaining grant balance payable for that scheme all of which will be funded by capital grant income from Oxfordshire Housing and Growth Deal (OGD).

To enter into a funding agreement to provide grant for the provision of affordable housing under the Oxfordshire Housing and Growth Deal to Legal & General Affordable Homes Ltd with respect to William Morris Close.

The conditions for the release of 90% of the funding have been met, and the development has already commenced on site.  The remaining grant is to be paid on completion.

Caroline Green, Chief Executive.

Decision taken in consultation with Cllr Diko Blackings, Cabinet Member for Affordable Housing, Housing Security and Housing the Homeless; Cllr Ed Turner, Cabinet Member for Finance and Asset Management; Nigel Kennedy, Head of Financial Services; and Susan Sale, Head of Law and Governance.