Purpose

The Cabinet will be asked to
approve revised arrangements for the tenure and disposal route of
the 79 homes in the Ewars Marsh
development on the Gascoigne Estate, as well as increased loan
amounts to B&D Homes Ltd to facilitate the payment of
outstanding Stamp Duty Land Tax (SDLT) to HMRC for the
Challingsworth House and Farriers development schemes.

Content

Cabinet resolved to:
 
(i)  Agree the amended
Heads of Terms for the 79 properties at Ewars Marsh Court (Gascoigne East Phase 2 Block
F1), to amend the tenure of those properties from shared ownership
to discounted market rent (DMR) and to amend the disposal of those
properties from B&D Reside Regeneration LLP (Company No:
09512728) to Barking and Dagenham Homes Ltd (Company No. 12090374),
as set out in paragraphs 2.1 - 2.6 of the report, and delegate
authority to the Strategic Director, Resources, in consultation
with the Strategic Director, Inclusive Growth and Place, to agree
and finalise the terms of the leases and any other associated
documents, and to take any steps necessary to ensure compliance
with the Subsidy Control Act 2022 and s123 of the Local Government
Act 1972;
 
(ii)  Note the advice on
the application of the Building Safety Act 2022, set out in
paragraphs 2.7 - 2.9 of the report, and delegate authority to the
Strategic Director, Resources, in consultation with the Strategic
Director, Inclusive Growth and Place, to review the proposed
disposal routes and to make amendments where they would simplify
the application of the Building Safety Act, provided that those
amendments were not material in terms of the financial position of
the overall scheme;
 
(iii)  Agree to an increased loan
amount for the purposes of meeting the SDLT liability of c.
£1.4m to HMRC for Challingsworth House (Shared Ownership
block) and Farriers (Becontree Heath Block A), as set out in
paragraphs 2.10 - 2.11 of the report, and delegate authority to the
Strategic Director, Resources, in consultation with the Strategic
Director, Inclusive Growth and Place, the determine the final terms
provided they were not materially different to the terms outlined
in the report;
 
(iv)  Agree the amended Heads of
Terms for the 33 shared ownership properties at Mercia Peak (Town
Quay Wharf) and to amend the disposal route of those properties to
B&D Reside Regeneration LLP (Company number OC400585), as set
out in paragraph 2.12 of the report, and delegate authority to the
Strategic Director, Resources, in consultation with the Strategic
Director, Inclusive Growth and Place, to agree and finalise the
terms of the leases and any other associated documents, and to take
any steps necessary to ensure compliance with the Subsidy Control
Act and s123 of the Local Government Act 1972;
 
(v)  Delegate authority to the
Strategic Director, Resources, to act on behalf of the Council as
an LLP member at the LLP Members meeting for B&D Reside
Regeneration LLP regarding entering the lease for Ewars Marsh and any other associated documents;
and
 
(vi)  Delegate authority to the
Head of Legal, in consultation with the Strategic Director,
Inclusive Growth and Place, to execute all the legal agreements,
contracts, and other documents on behalf of the Council in order to
implement the proposals detailed in the report.