Decision

RESOLVED: that Cabinet: 

a)     Noted and approved use of the use of Housing Revenue Account (HRA) Capital New Build Pool Budget as set out in the Viability Appraisal for the Malabar Affordable Housing Opportunity as outlined in exempt Appendix.

b)     Delegated authority to the Executive Director of Place, Economy and the Environment, in consultation with the Director of Communities and Opportunities, the Cabinet Member for Housing, the Chief Financial Officer  and the Monitoring Officer to  enter into the appropriate agreements with Crest Nicholson, in order to implement the proposals outlined in this report acting in the best interests of the Council. This delegation is subject to the satisfactory completion of all due diligence and independent valuations. 

REASONS RESOLVED:

a)     This scheme will contribute 47 new affordable homes in total to the delivery of the Council’s Housing Strategy, and it is Affordable Homes Delivery Plan. This proposal prevents the loss of the 24 s106 affordable homes.  

b)     Theme 1 of the Housing Strategy 2022 - 2025 determines that WNC is committed to “delivering the homes people need and can afford”, additionally point 9 of the Affordable Homes Delivery Plan is to “accelerate the supply of new Council homes”. A key priority of the One West Northamptonshire Plan is for the Council to work with its partners to deliver More and Better-Quality Homes. 

c)     This scheme will utilise already approved budgets, drawing down funds from the HRA Capital Programme ‘new-build pool’ and the Homes England Grant Funding budget. This is detailed in exempt Appendix A. 

ALTERNATIVE OPTIONS: If the Council does not secure the 24 Section 106 affordable properties, there is a high risk that they will be lost from the affordable housing provision and therefore preventing them from being let to households in West Northamptonshire that need affordable homes.