Purpose

To approve Homes for Lambeth (HfL) Homes
acquisition of 31 social rent homes from HfL Build at Roman
Rise.

To approve HfL Homes to let, manage, and maintain all affordable
homes acquired from Roman Rise, with the council to receive
nomination rights in respect of the social rent homes.

To enter into loan agreements and to make loan facilities available
to HfL Homes, as necessary, for HfL Homes to acquire the affordable
homes at Roman Rise.

To pay over GLA subsidy, received by the council for these
projects, to HfL Homes

Decision

1.            
To approve Homes for Lambeth (HFL) Homes acquisition of 31 social
rent homes from HFL Build at the Roman Rise development, on
condition that the Section 106 Deed of Variation to convert the
tenure is agreed.
 
2.            
To approve a loan agreement that makes loan facilities totalling
£4,800,000 available to HFL Homes, for HFL Homes to acquire
the affordable homes at Roman Rise from HFL Build, to occur as soon
as is practicable but no later than April 2025.
 
3.            
To authorise the Assistant Director, Strategic Partnerships and
Programmes, to enter into the necessary security agreement, and any
other legal agreements necessary, to enable the completion of the
loan agreement, to occur as soon as is practicable but no later
than April 2025.
 
4.            
To approve payment of Greater London Authority (GLA) grant
totalling £5,810,000, received by the council for these
properties, to HFL Homes, to occur as soon as is practicable but no
later than April 2025.