1.    Approve, as an urgent decision outside of the policy and budget framework, that the Council:

1.    takes a transfer of the 168 Barton Park residential units from Oxford City Housing (Investment) Limited (“OCH(I)L”);

2.    acquires the remaining 184 units at Barton Park directly from the relevant phase developers for Phases 2, 3 and Phase 4 (“the developer”) at Barton Park as required under the overarching development agreement with Barton (Oxford) LLP;

all properties to be purchased by the Housing Revenue Account (HRA) and from within the HRA capital budget.

3.    Agree that charging of the purchases approved at recommendation 1 (at the value shown in Appendix 2) is to the allocated HRA Capital budget for ‘Purchases of Properties from OX Place’, until such time as full Council may allocate a special budget for the purpose of acquiring the Social Rent homes at Barton Park into the HRA.

4.    Approve and agree to the purchase of and authorise the entering of the relevant contract and transfer documentation, ancillary deeds of covenant and agreement for the acquisition of 5 new affordable homes at Barton Park (Phase 3) from the Developer directly into the Housing Revenue Account (HRA), as listed in Appendix 1. 

5.    Approve and agree to the purchase of and authorise the entering of the relevant contract and transfer documentation, ancillary deeds of covenant and agreement for the acquisition of the 168 residential freehold and leasehold units held by OCH(I)L at Barton Park and any associated land at a total purchase price of up to £33,125,324 plus up to £250,000 of associated costs. 

6.    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 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 1.2  above, to the extent that such authority has not already been delegated to officers within the Constitution.