Decision Maker: Mayor and Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: September 18, 2024

Purpose:

Content: RESOLVED to   1.            Increase the Total Scheme Cost of the Programme up to £105m, up from £95.3m noting that borrowing will fall by £26.5m due to increases in external subsidy.   2.            Increase the Refurbishment contract component of the March 2023 M&C Report from £4.5m to £6.75m which reflects the higher refurbishment cost per unit of units acquired and approve any necessary contract variation.   3.            Continue the programme to acquire up to 300-unit programme, with reviews very 50 units to be approved by the Executive Directors for Place in Consultation with the Executive Directors of Corporate Resources and Housing and in consultation with the Cabinet Member for Regeneration and Place.   4.            To extend the programme from March 2026 to March 2027 to ensure the delivery of the full 300 units, if progressed.   5.            To increase the development allowance from to 2.5% to 3.5% to reflect that the scheme is now acquisition and works not acquisition only, as originally envisaged.   6.            To lease HAP units to Lewisham Homes Limited, if required, subject to the required governance processes of both bodies.