Report of the Cabinet Member for Housing and Leisure Services, seeking approval on the Townhill Park Regeneration Framework Financial Model, Delivery Framework; and funding for the implementation of Phase 1, attached.
Minutes:
The report of the Cabinet Member for Housing and Leisure Services was submitted seeking approval of the Townhill Park Regeneration Framework Financial Model, Delivery Framework; and funding for the implementation of Phase 1 (copy of report circulated with agenda and appended to signed minutes).
Amendment moved by Councillor Baillie and seconded by Councillor Moulton:
Page 1, Paragraph 1, 3rd line.
After “tackling economic deprivation” insert “poor health, poor education,”.
Page 4, Add new recommendations (iv) and (v):
(iv) To note that the HRA will be required to incur further expenditure provision for which has been included in the 30 year HRA Business Plan projections for these proposals, but with the timing dependent on the final details of the development agreement and subject to future Cabinet/Council approvals.
(v) To agree this new social housing provision will be provided for letting at 50% affordable rent and 50% at social rent, subject to approval from the Department for Communities and Local Government/Homes and Communities Agency.
AMENDMENT TO READ:
Brief Summary, paragraph 1:
Southampton City Council has embarked on a major estate regeneration programme which plays an essential part in the wider commitment of delivering growth and tackling economic deprivation, poor health, poor education and social disadvantage on Southampton’s Council estates.
Amended recommendations to read:
(i) To agree that the HRA capital programme will fund the site preparation costs set out in this report, currently estimated at £11.8M, and to approve a virement of £10.5M from the uncommitted provision for Estate Regeneration, which exists in the HRA capital programme and business plan, and £1.3M from the uncommitted funding for affordable housing in the Housing GF capital programmeto establish a specific budget of £11.8M for Townhill Park, the phasing for which is set out in Appendix 1.
(ii) To approve the use of £23.9M of the 30 year HRA revenue surplus to meet the long term revenue costs of the regeneration of Townhill Park, which includes the requirement to repay the debt on the dwellings that have been disposed of from the general HRA revenue balance as there is no net capital receipt to fund this repayment.
(iii) To agree that the General Fund capital programme will fund the highways infrastructure, open space improvements and replacement community facilities where appropriate, at an estimated cost of £2.8M with the method of funding this being agreed once the use of the Community Infrastructure Levy and the value of the GF capital receipts are known.
(iv) To note that the HRA will be required to incur further expenditure provision for which has been included in the 30 year HRA Business Plan projections for these proposals, but with the timing dependent on the final details of the development agreement and subject to future Cabinet/Council approvals.
(v) To agree this new social housing provision will be provided for letting at 50% affordable rent and 50% at social rent, subject to approval from the Department for Communities and Local Government/Homes and Communities Agency.
RESOLVED that the report be deferred to a future meeting pending clarification of a number of issues.
Supporting documents: