Purpose

Cabinet  approved the purchase of 137 properties for
affordable rent on the Spitfire Green Phase 3 site being
constructed by BDW (Barret David Wilson) on New Haine Road,
Ramsgate for £38,150,000 plus £75k for legal
costs.

Decision

Cabinet agreed the following:
 
1. 
That the Council progresses with the acquisition of 137 new
affordable homes being built by developer BDW, using the
accelerated housing programme capital budget, approved by Council
at its meeting on 12 October 2023;
 
2. That Cabinet note that the
acquisitions are dependent upon the council securing sufficient
Homes England Grant to make the project financially viable;
 
3. That Cabinet note that this
project replaces the previously approved project to acquire 32
section 106 affordable homes at the same site;
 
4. That the Director of Corporate
Services be delegated authority to re-assess the viability of
projects within the programme, and subsequently approve a variation
to the assumed level of borrowing or other funding needed, in
consultation with the Deputy Leader and Cabinet Member for Housing,
provided the assessment shows that the schemes remain viable and
remain within the overall approved budget. Any changes in funding
will be subsequently reported to Cabinet;
 
5. The letting of these homes in
accordance with the council’s Allocations Policy and any
subsequent Local Letting Plan (LLP), at an affordable rent as set
out in the council’s Tenancy Strategy.