Decision

RESOLVED that Cabinet:

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

b.     Delegated authority to the Corporate Director of Place and Assets, in consultation with the Director of Communities and Opportunities, the Cabinet Member for Housing, the Chief Financial Officer and the Monitoring Officer to (i)  negotiate and agree final terms for the purchase based on  the proposals outlined in this report or such other terms acting in the best interests of the Council  and (ii) to  enter into the appropriate agreements and documents with Tilia Homes Ltd to give effect to such terms. This delegation is subject to the satisfactory completion of all due diligence and independent valuations. 

REASON RESOLVED:

1. This scheme will contribute 87 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 these s106 affordable homes.  
2. 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. 
3. This scheme will utilise already approved budgets, drawing down funds from the HRA Capital Programme ‘new-build pool’. This is detailed in exempt Appendix A. 

ALTERNATIVE OPTIONS:

1)     Council Intervention 

2)     Addressing Need 

3)     Tenure Mix