Recommendation(s): That the Cabinet Member resolves to:

1. Approve the acquisition of 10 new affordable homes at Barton Park (Phase 3) direct into the Housing Revenue Account (HRA). These units (listed in Appendix 1) will be retained in the HRA, removing OCH(I)L from any involvement with these properties.

2. Approve that the charging of these purchases (at the value shown in Appendix 2) is to the allocated HRA Captial budget for ‘Purchases of Properties from OX Place’, until such time as Council may allocate a special budget for the purpose of acquiring the Social Rent homes at Barton Park into the HRA.

3. Delegate authority to the Executive Director - Development, in consultation with the Cabinet Member for Housing and Communities; the Head of Financial Services/Section 151 Officer; and the Council’s Monitoring Officer, to:

i. Agree the terms of the acquisition of the freehold interest relating to the ten properties and any associated land subject to it meeting Existing Use Value for Social Rent (or an equivalent valuation methodology);

ii. Agree to the purchase of the ten Social Rented properties and any associated land from Barton Park in accordance with the agreement with Barton Oxford LLP and Oxford City Council dated December 2014;

iii. Enter into all agreements necessary, for which powers are not already delegated under the scheme of delegation, to facilitate the transfer of the properties at i and ii above, including but not limited to, any documentation necessary to transfer the benefit of any continuing warranties and guarantees relating to the properties to the Council.