Issue - meetings

To update members on the progress made in delivery of new affordable Council homes through the acquisition of property under Section 106 (S106) Agreements and development of shared ownership properties to help to ensure that the tenure mix of housing meets the identified need.

To request that a budget allocation for acquisition, works and fees associated with delivery of 5 new affordable homes on the CALA Amlets Way development in Cranleigh as set out in Exempt Annexe 1

Recommendation

It is recommended that the Executive:

·         Notes the progress made in delivery of new affordable Council homes through the acquisition of property under Section 106 (S106) Agreements and delivery of shared ownership homes to offer another tenure to further support delivery of new homes which meet the needs of its residents.

·         Agrees a budget allocation for acquisition, works and fees associated with delivery of 5 new affordable homes on the CALA Amlets Way development in Cranleigh as set out in Exempt Annexe 2.

·         Delegates authority to the Strategic Director (Chief Finance Officer), in consultation with Portfolio Holder for Finance and Portfolio Holder for Housing Services, to enter into a contract with CALA Homes.

·         Agrees to delegate authority to the Head of Strategic Housing and Delivery, in consultation with Strategic Director (Chief Finance Officer) and Portfolio Holders for Finance and Housing Services, to allocate the remaining S106 budget when other opportunities to acquire new homes on developer sites.

86.1    Cllr Carole King, Portfolio Holder for Housing updated the Executive on the progress made in delivering new affordable Council homes through the acquisition of property under Section 106 Agreements, and the development of shared ownership properties to help to ensure that the tenure mix of housing meets the identified need.

86.2    The Council had been invited by CALA Management Ltd to make an offer to acquire five new homes on their development site off Amlets Lane in Cranleigh. The invitation was in relation to two 2-bed houses for affordable rent and three 3-bed houses for shared ownership. The timescale for completion of the build was December 2019, and a specification had been agreed with CALA that reflected the finish of homes developed by Waverley and provision of standard fittings in a shared ownership property.

86.3    A budget of £3.5m for delivery of new affordable homes through acquisition of property under S106 Agreements had been approved within the New Affordable Housing Reserve as part of the HRA Business Plan, and the purchase of the five homes from CALA would be met from this reserve, as set out in the Exempt Annexe to the agenda report.

86.4    This was an exciting step for Waverley, and would help to meet the urgent need for more affordable housing of different tenure types across Waverley.

86.5    The Executive RESOLVED to:

1.         note the progress made in delivery of new affordable Council homes through the acquisition of property under Section 106 (S106) Agreements and delivery of shared ownership homes to offer another tenure to further support delivery of new homes which meet the needs of its residents.

2.         agree a budget allocation for acquisition, works and fees associated with delivery of 5 new affordable homes on the CALA Amlets Way development in Cranleigh as set out in Exempt Annexe 2 of the agenda report.

3.         delegate authority to the Strategic Director (Chief Finance Officer), in consultation with Portfolio Holder for Finance and Portfolio Holder for Housing Services, to enter into a contract with CALA Homes.

4.         delegate authority to the Head of Strategic Housing and Delivery, in consultation with Strategic Director (Chief Finance Officer) and Portfolio Holder for Finance and the Portfolio Holder for Housing Services, to allocate the remaining S106 budget when other opportunities to acquire new homes on developer sites.

[Reason: to progress the delivery of new affordable homes in Waverley through the use of S106 sites.]