Purpose

A decision is required on accepting one of the offers received as a result of an open market disposal process. The site has been declared surplus to requirements and the decision to sell with result in capital receipt and appropriate levels of affordable housing provision. The site will have been marketed for 4 weeks with the results of the process being presented in a full report to the Leader.

Decision

Recommendations:               

1. 1.      The Director of Property & Assets in consultation with the Cabinet Member for Accessible Housing and Resources is authorised to finalise and agree Heads of Terms in accordance with the offer detailed in the confidential appendix 1 which delivers 100% affordable housing whilst remaining compliant with S123 (Local Government Act 1972) obligations to gain best value from the disposal.
2. 2.      The Director for Property and Assets in consultation with the Cabinet Member for Accessible Housing and Resources is authorised to dispose of the site to the agreed party who have confirmed a commitment to deliver 100% affordable homes.