Agenda and minutes

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Items
No. Item

14.

Apologies

15.

Declarations of Interest

    Members are required to declare any disclosable pecuniary, personal or personal and prejudicial interests they may have and the nature of those interests relating to items on this agenda and/or indicate if S106 of the Local Government Finance Act 1992 applies to them.   

    Minutes:

    There were no declarations of interest.

16.

Urgent Items of Business

17.

Minutes pdf icon PDF 61 KB

    To consider the Minutes of the Meeting of the Property Growth Fund Sub-Committee held on 24th October 2018.

    Minutes:

    Resolved:

     

    That the minutes of the meeting of the Property Growth Fund Sub-Committee held on 24th October 2018 be approved and signed as a correct record.

18.

Exclusion of Press and Public

    To consider that the press and public be excluded from the remaining part of the meeting pursuant to Section 100(A)4 of the Local Government Act 1972 on the grounds that discussions may involve the likely disclosure of exempt information as defined in the provisions of Part 1 of Schedule 12A to the Local Government Act 1972 and public interest would not be served in publishing the information.

    Minutes:

    Resolved;

     

    That the Press and Public be excluded from the meeting during consideration of the following two items of business, in accordance with the provisions of Section 100A (4) of the Local Government Act 1972, as amended.

     

    Reason for Decision:

     

    Should the press and public remain during debate on the items there may be a disclosure of information that is deemed to be exempt under Parts 1 and 4 of Schedule 12A of the Local Government Act 1972.

     

     

19.

Disposal of Land at Borrowdale Park, Langley

Minutes:

The Sub-Committee considered the report of the Director of Neighbourhoods which sought approval for the disposal of Council land at Borrowdale Park, Langley, to The Riverside Group Limited (TRGL).

 

Further to the submitted report, the Sub-Committee was also advised verbally of an estimated value of the land that had been undertaken by the Council’s Estates Team.

 

Alternatives considered

 

Open market sale of the property, outside of the land pooling agreement would generate a capital receipt but would not then provide affordable housing for rent within the area. As other sites within the area have been sold and developed with housing for sale, failure to develop this site with housing available at affordable rents would alter the tenure balance on the estate and would prevent low-income residents from accessing new homes.

 

Decision:

 

1.    That the wider benefits and improvements the redevelopment of this site will provide which justify the disposal at nil value be noted;

 

2.    That the disposal of the site to TRGL for nil value in order to enable development of the site by TRGL for affordable housing be approved;

 

3.    That approval of the final heads of term for the disposal be delegated to the Director of Neighbourhoods in consultation with the Director of Resources once agreed between the Council and TRGL;

 

4.    That authority be delegated to the Head of Legal to carry out and complete the legal formalities in connection with the disposal on behalf of the Council.

 

Reasons for decision:

 

The provision of affordable housing in the location would ensure that local housing need was recognised and responded to, would increase the tenure diversity in the area;  enhance the housing offer available to residents and, ultimately, would help to improve the economic, social and environmental wellbeing of the residents of the area.

 

Homes England had confirmed they were happy to support the scheme through the provision of grant funding.

 

TRGL was committed to the scheme and approval had been given by their Board to proceed.