Issue - meetings

The Council is recommended to make the resolutions set out in the report at agenda item 15. 

70.1        The Mayor invites the leader to introduce the recommendations. The Leader introduces and moves the recommendation from the Executive. Cllr Palmer seconds and presents the detailed proposal.

70.2        Cllr Palmer states that the approval has already been received by the council for the 12 new homes, what has been brought forth is updating the current uncertainty of both costs and value. Cllr Palmer continues to say that the scheme remains viable, and he hopes to receive approval from the council.

70.3        The Mayor invites speakers. There were no speakers.

The Mayor moved to a vote and it was RESOLVED:

To approve the allocation of an additional £276,342 budget to be met through a combination of capital receipts and borrowing.

The Executive are recommended to make the resolutions set out in the report at agenda item 15.

Co-Portfolio Holder for Housing (Delivery)

     I.        Give delegated authority to the Executive Head of Legal and Democratic Services to approve the final form of any legal agreements and to Strategic Director (Place) to enter into these agreements with the developer.

    II.        Give delegated authority to the Strategic Director (Place) to approve pre legal agreements with the developer to enable the development of the project and authorise spend in accordance with the budget.

  III.        Give delegated authority to the Strategic Director (Place) to enter into any related contractual documentation (including collateral warranties or agreements) relating to the project.

  IV.        Give delegated authority to the Strategic Director (Place) to enter into any ancillary agreements related to the project provided that these are within the project budget.

The Executive RESOLVED to RECOMMEND to Council

1.    the approval of the allocation of an additional £276,342 budget to be met through a combination of capital receipts and borrowing.

Councillor Palmer explained that the Council had previously agreed the Business Case and funding on 13 December 2022. However, due to the time delay in securing the planning consent for the development, the developer had sought an additional sum to reflect build cost inflation and market conditions. Consequently, an additional budget was required to ensure that necessary contingency was in place. The scheme to deliver 12 homes remained financially viable.

There being no further discussion, the Executive RESOLVED unanimously to:

     I.        Give delegated authority to the Executive Head of Legal and Democratic Services to approve the final form of any legal agreements and to Strategic Director (Place) to enter into these agreements with the developer.

    II.        Give delegated authority to the Strategic Director (Place) to approve pre legal agreements with the developer to enable the development of the project and authorise spend in accordance with the budget.

  III.        Give delegated authority to the Strategic Director (Place) to enter into any related contractual documentation (including collateral warranties or agreements) relating to the project.

  IV.        Give delegated authority to the Strategic Director (Place) to enter into any ancillary agreements related to the project provided that these are within the project budget.

The Executive RESOLVED to RECOMMEND to Council

1.    the approval of the allocation of an additional £276,342 budget to be met through a combination of capital receipts and borrowing.

Reasons:

     I.        The Executive and Full Council have previously approved the Business Case for this site and the recommended authority is required to enter into the legal agreements with the developer and approve additional budget to facilitate delivery of the new homes on this site through these agreements.  Through delivery of the project there may be a requirement to enter into project related contractual documents or ancillary agreements for example with utility companies and other statutory authorities.

    II.        The Waverley Corporate Strategy 2020-2025 sets out the Vision and Strategic Priorities for the Council. One of the strategic priorities is to ‘provide good quality housing for all income levels.’

  III.        Build More, Build Better, Build for Life Affordable Homes Delivery Strategy 2022 – 2025 sets out the Council’s commitment to build homes to buy or rent for households from all income levels. The strategy has been supported by evidence studies including the Waverley Housing Affordability Study 2021.

  IV.        Delivery of 12 homes at Catteshall Lane, will support meeting these priorities and commitments.