Issue - meetings

Cabinet received an update report on the affordable development programme. The council had previously committed capital funding of £8.8m, from the Housing Revenue Account Capital Programme, for the delivery of Phase 4 of the affordable housing development programme, spanning the 2020-24 financial years. Phase 4 included 14 property acquisitions (already completed) and 22 new build homes, which were due to start on site in March 2023.

The Capital Programme approved by Council in February 2022 agreed a further ongoing annual budget of £8.1m from 2024/25 for the ‘New Build Phase 5’ scheme, funded from borrowing. A total of 60% of this funding was through borrowing, with the balance of 40% funding from retained right-to-buy receipts. Right-to-buy (RTB) receipts were accrued following a sale of a council home to a tenant through the right to buy legislation. A proportion of these receipts were set aside for the provision of new affordable rented homes (1-4-1 receipts), under the terms of an agreement with the government.

Cabinet was asked to approve the adjustment to the timescales of delivery to spend the already allocated budget and an increased number of new build units in the current phase from 22 to 47, so that the total number of homes provided in phase 4 would increase to 61. These additional units would increase the number of new homes provided by the council as a result of the new build, acquisition and refurbishment programmes to a total of 191 since 2015.

It was proposed that some of these units would be on infill sites on existing housing estates including, Tomlin Drive, Staner Court and Clements Road. The programme also included the development of land acquired by the council in Dane Valley.

Councillor Everitt and Councillor Yates spoke under Council Procedure Rule 20.1.

Councillor Jill Bayford proposed, Councillor Kup seconded and Cabinet agreed the following:

1.  An increase in the number of homes to be delivered as part of Phase 4 from 36 to 61;

2.  That £8.1m for 2024/25 vired from the ‘New Build Phase 5’ capital scheme be transferred to the ‘New Build Phase 4’ scheme, to accommodate the scheme of works set out in this report; and

3.  The ‘New Build Phase 4 scheme’ budget for 2024/25 is increased by £0.2m, to be funded from the borrowing allocated to and a corresponding decrease in the ‘New Build Phase 5’ scheme budget for 2025/26.