To authorise the purchase by way of transfer the completed property at 66 Sandy Lane, resulting from the Oxford City Housing Development Ltd Extensions Programme.

Authority was granted for the HRA to purchase units for £1,025,000 in total. The purchase is supported by £110,000 of Oxfordshire Growth Deal Affordable Housing Grant and £110,000 in Retained Right to Buy Receipts.

To authorise the transfer by purchase of the land and affordable housing at the former Royal British Legion, Edgecombe Road from Oxford City Housing (Development) Limited to the Council’s Housing Revenue Account (HRA) for a consideration of £2,350,000 in total.

1     To authorise the transfer by sale of land between 22 and 23 Harts Close to Oxford City Housing (Development) Limited for a consideration of £1

2     To authorise the transfer by purchase of the land and two affordable housing units from Oxford City Housing (Development) Limited by the Council’s Housing Revenue Account for a consideration of £770,000 in total.

1. To authorise the transfer by sale of land at the former Lucy Faithfull House site on Speedwell Street to Oxford City Housing (Development) Limited for a consideration of £1

2. To authorise the transfer by purchase of the land and 26 affordable housing units from Oxford City Housing (Development) Limited by the Council’s Housing Revenue Account (HRA) for a consideration of £10,250,000 in total.

To authorise the transfer by sale of the Between Towns Road former Murco garage development site to Oxford City Housing (Development) Limited for a consideration of £920,000 in total.

As part of Oxford City Council’s CEB decision on 17 March 2016 to establish Oxford City Housing (Investment) Limited it was agreed that the Council would develop new affordable housing with a range of tenures. Further reports have consistently identified this Between Towns Road site as a potential development scheme. 

OCH(D)L has carried out extensive site investigations and design work and has obtained planning permission to deliver 38 homes here (18/03287/FUL). 

To authorise the transfer by purchase of the land and affordable housing at Elsfield Hall, Cumberlege Close and Between Towns Road from Oxford City Housing (Development) Limited for the Council’s Housing Revenue Account.

For OCH(D)L to enter into a build contract to construct 73 homes over three sites at Between Towns Road, Cumberlege Close and Elsfield Hall to include 56 affordable homes (33 rented and 23 shared ownership homes) it required the Council to confirm the purchase price of these homes and commit to their purchase in order to proceed. The three sites are being dealt with as a single entity in this report to reflect that they are being built under a single construction contract to achieve economies of scale. It is important to note that they will complete at different times and payment for the affordable homes will be staggered accordingly. Constant reporting of the expected completion dates will take place to ensure the Council has full visibility and notice of when the payments will be required.

Viability appraisals have been carried out for the transfer of these homes to the Housing Revenue Account (HRA) which show that the scheme is within the parameters set for the HRA.

To authorise the transfer by sale of the land at Elsfield Hall and Former 2-16 Cumberlege Close to Oxford City Housing (Development) Limited for a consideration of £1,135,000 in total.

As part of Oxford City Council’s CEB decision on 17 March 2016 to establish Oxford City Housing (Investment) Limited it was agreed that the Council would develop new affordable housing with a range of tenures. Further reports have consistently identified the sites at Elsfield Hall and Former 2-16 Cumberlege Close as potential development schemes. 

OCH(D)L has carried out extensive site investigations and design work and has obtained planning permissions to deliver 35 homes across two linked sites (18/03384/FUL, 18/03385/FUL). Due to a restrictive covenant, it was necessary to link these two applications in order to make building out the site at Cumberlege Close viable.

A joint valuation exercise has been carried out in April 2019 by Carter Jonas who have confirmed that jointly the properties should be valued at £1,135,000.

Council considered a report of the Head of Housing submitted to Cabinet on 29 May 2019 proposing changes to the arrangements between the Council’s group of Housing companies and the Council’s Housing Revenue Account for the delivery of affordable housing in response to recent government policy changes and recommending a review of future Oxford City Housing Limited (OCHL) development with a view to expanding activity and accelerating affordable housing delivery.

Councillor Rowley, the Cabinet Member for Affordable Housing presented the report and moved the recommendations, which were agreed on being seconded and put to the vote.

Council resolved to

1.            increase the HRA capital programme by £45.303m so that adequate additional budgetary provision is made available for the acquisitions to take place as set out in Appendix 1 of the report;

2.            approve a revised HRA budget and Business Plan that incorporates the new acquired dwellings that impacts on rental income, maintenance spend, interest payments, debt redemption activity and other matters as set out in Appendix 2 of the report; and

3.            approve the re-phasing of the loans from the  General Fund Capital Programme in relation to the borrowing activity of OCHL over the MTFP period 2019/20 to 2022/23 as set out in Appendix 1 of the report.