Decision

1.   
That Recommendations 3.1 and 3.2 of the decision made by
Cabinet on the 21 March 2023
(Minute 458/03/23 refers) be rescinded
and that the following be approved in replacement:

 

1.1   
That the Chief Executive be given delegated
authority to determine an effective disposal strategy which enables
the sale of the Preston Down Road; with an objective to secure a
disposal which will result in delivery of 30% affordable housing
and maximise the sales receipt in a timely manner.

 

1.2   
On determination of 1.1 above, the Chief Executive
be given delegated authority, in consultation with the Cabinet
Member for place Development and Economic Growth, to dispose of
Preston Down Road.

 

1.3   
That the surplus received on the capital receipt
from Preston Down Road be ringfenced for the delivery of affordable
(including social) housing in Torbay, with a minimum of 50% being
ringfenced for delivery of affordable (including social) housing in
Paignton.

 

2.   
Additionally
if required:
 

2.1  No later than 12
months prior to the expiration of the planning consent for the
site, the Director of Pride in Place to bring forward a capital
proposal to undertake the minimum works necessary to discharge
relevant planning conditions, make a technical start on site and
make the planning consent extant, in consultation with the Section
151 Officer, and Cabinet Member for Housing &
Finance.