Cabinet, on 15 March 2023, resolved to:

1.    Give project approval for the acquisition of affordable dwellings developed by Oxford City Homes Ltd (OCHL) for which budgetary provision has been made in the Council’s Housing Revenue Account in respect of:

a)    Oxford North (referenced in paragraphs 9 to 18 of the report), and

b)    Goose Green, Wolvercote (referenced in paragraphs 19 to 34 of the report), and

c)    Meadow Lane, Iffley (referenced in paragraphs 35 to 49 of the report);

2.      Delegate authority to the Executive Director (Development),in consultation with the Executive Director (Communities and People); the Cabinet Member for Housing; the Head of Financial Services/Section 151 Officer; and the Head of Law and Governance/Monitoring Officer,to finalise the scheme design and financial appraisals and enter into agreements and contracts to facilitate the agreed purchase by the Council of the affordable housing (to be held in the HRA) and any associated land, within the identified budget,for the provision of the affordable housing (111 affordable homes) on the Oxford North development, within the project approval;

3.    Delegate authority to the Executive Director (Communities and People) in consultation with the Cabinet Member for Planning and Housing Delivery; the Cabinet Member for Housing; the Head of Financial Services/Section 151 Officer and the Head of Law and Governance/Monitoring Officerto finalise the scheme design and financial appraisals and enter into agreements and contracts to facilitate the purchase by the Council of the social rent and shared ownership homes (to be held in the HRA) and any associated land, within the identified budget and within this project approval forGoose Green, Wolvercote (16 affordable homes);

4.    Delegate authority to the Executive Director (Development),in consultation with the Cabinet Member for Finance and Asset Management; the Head of Financial Services/Section 151 Officer; and the Head of Law and Governance/Monitoring Officer,to approve the final terms and enter into the transfer in relation to Goose Green from the General Fund to OCHL;

5.    Delegate authority to the Executive Director (Development),in consultation with the Executive Director (Communities and People); the Cabinet Member for Housing; the Head of Financial Services/Section 151 Officer; and the Head of Law and Governance/Monitoring Officer,to finalise the scheme design and financial appraisals and enter into agreements and contracts to facilitate the agreed purchase by the Council of the affordable housing (to be held in the HRA) and any associated land, from OCHL, for the provision of the affordable housing on the Meadow Lane, Iffley development (32 affordable homes), and within the identified budget and this project approval.

To enter into a land sale agreement and development agreement with Hill Residential Ltd for the purpose of purchasing 111 new affordable homes for the HRA.

Cabinet, on 15 March 2023 (‘Delivery of Affordable Housing’) gave (i) project approval for the acquisition of affordable dwellings developed by Oxford City Homes Ltd (OCHL) for which budgetary provision had been made in the Council’s Housing Revenue Account in respect of Oxford North (referenced in paragraphs 9 to 18 of the report); and (ii) delegated authority to officers to facilitate this.

The decision enables the delivery of 111 affordable housing units for the City Council/HRA. This is an important contribution of units to the City Council’s affordable homes delivery programme.

Based on the financial appraisal, it can be shown that the purchase of these new homes will fall within the financial parameters and that they offer good value for money. This increases the housing stock for the Council/ HRA.

The scheme is included in the capital programme and business plans, with budgetary provision identified in the Council 2023/24 budget and MTFP (February 2023).

Not to enter into the land sale and development agreement.  This option was rejected as it would not enable the delivery of 111 affordable housing units for the City Council/HRA.

Decision taken by Tom Bridgman, Executive Director (Development) in consultation with Peter Matthew, Interim Executive Director (People and Communities); Nigel Kennedy, Head of Financial Services; Marcia Eccleston, Deputy Monitoring Officer; and Councillor Linda Smith, Cabinet Member for Housing.