To acquire 2 x 3-bed and 7 x 4-bed houses on Barton Park development, Headington for the sum of £650,000. This will allow the switch of the units from affordable rent to social rent, making them more affordable and sustainable in the long term.  Funds for the purchase will come from s.106 affordable housing monies.

To acquire 9 affordable and social rented dwellings - built by Cantay Estates.

The acquisition is on a standard acquisition terms with the Council paying a 10% deposit and entering into a development agreement with the developer for the handover of the completed units with the remaining balance paid upon confirmation that the units have been completed to a satisfactory standard and in line with the agreed specification.

The agreements and contracts have been extensively negotiated to ensure the best possible terms have been sought for the Council. External legal advice was secured to manage this process in consultation with the Council’s representative and project manager.

An independent employer’s agent and clerk of works have been employed to monitor and manage the contract whilst also ensuring the works are completed to the standards required and based on the Council’s requirements. The scope of their contract is until the completion of all dwellings and handover to the Council.

To acquire 45 dwellings at Sandford Road, Littlemore, from Abbey Homes.

To acquire the 45 social rented dwellings - built as part of the s106 provision from Abbey Homes

The acquisition is on a golden brick basis with the Council acquiring the land and simultaneously entering into a build agreement with the developer for the construction.

The agreements and contracts have been extensively negotiated to ensure the best possible terms have been sought for the Council. External legal advice was secured to manage this process in consultation with the Councils representative and project manager.

An independent employer’s agent and clerk of works have been employed to monitor and manage the contract whilst also ensuring the works are completed to the standards required and based on the Councils requirements. The scope of their contract is until the completion of all dwellings and handover to the Council.

Council considered a report from the Head of Housing Services which had been submitted to Cabinet on 22 January 2020 seeking project approval and delegations to enable the spending of Retained Right to Buy Receipts (RRTBRs) and s.106 funding for the purpose of delivering, or enabling the delivery of, more affordable housing, through new build or acquisition activity.

Councillor Mike Rowley, Cabinet Member for Affordable Housing presented the report. He informed Council that the recommendations set out in the report had been agreed by Cabinet and announced that the funds would be used to buy properties at the Sandford Road site in Littlemore, 45 of which would be for social rent and 25 would be key worker homes. He moved the recommendation, which was agreed on being seconded and put to the vote.

Council resolved to:

1.     Approve a capital budget for £3m of expenditure in 2019/20, subsidised using RRTBRs, to enable an off-plan purchase of Social Rented homes, this sum being effectively brought forward from the overall £13.2m identified in 2020/21 in the consultation budget, which would then reduce to £10.2m in 20/21 accordingly.