The Director of Economy, Regeneration and Sustainability has submitted a report to seek Council appropriation of the land at Cave Street from the General Fund (GF) into the Housing Revenue Account (HRA) to facilitate affordable housing development.

Council is recommended to:

1.    Approve the appropriation of the land owned by Oxford City Council (OCC) at Cave Street from the General Fund (GF) into the Housing Revenue Account (HRA).

Council resolved to:

1. Approve the appropriation of the land owned by Oxford City Council (OCC) at Cave Street from the General Fund (GF) into the Housing Revenue Account (HRA).

The Director of Economy, Regeneration and Sustainability had submitted a report to seek Council appropriation of the land at Cave Street from the General Fund (GF) into the Housing Revenue Account (HRA) to facilitate affordable housing development.

Councillor Linda Smith presented and proposed the report. She said that they hoped this site would create at least 19 new affordable homes. She said that they hoped to complete the development by the end of 2026.

Councillor Turner seconded the report. He said that the building had been demolished and that the scheme for start up units had not stacked up financially. Due to this, they decided to pursue the affordable housing scheme instead.

Councillor Roz Smith expressed her support for the scheme and for the building of the new homes in this location.

Council resolved to:

1.    Approve the appropriation of the land owned by Oxford City Council (OCC) at Cave Street from the General Fund (GF) into the Housing Revenue Account (HRA).