Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: September 26, 2024

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.

Content: 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.