Purpose

To update on the progress on
the Lacy St Development in Stretford to provide 53 energy efficient
houses and apartments and is due to complete in End of
2027.

Decision

1)        
That the progress of the development, be
noted.

 

2)        
That the commitment to delivering 25% affordable
housing, be noted.
 

3)        
That the development progression based on the
delivery of the affordable homes, be approved.
 

4)        
That the plans and proposals, including type and
tenure mix, be noted.
 

5)        
That the low carbon and sustainable measures, be
noted.

Reasons for the decision

The Council is committed to the
provision of new homes in the Borough. The development gives the
Council control over how the land is developed so that it can be
better aligned with the Council’s strategic objectives and
that the development meets the Council priorities relating to
affordable housing, energy efficiency and carbon
reduction.

Alternative options considered

The option to do nothing would
have a serious impact on the level of capital receipts required to
support the three-year capital programme and will also incur
abortive costs that will add pressure to the Council
revenue.
 
The Council could dispose of
the site at open market value; however, this would not ensure the
Council’s outcomes would be achieved as the Council would not
have development control of the site nor would it benefit from any
development profit.