Issue - decisions

That Cabinet Approve:

(i)  A revised tenure mix of; 37 Social Rent, 29 Affordable Rent and 37 Shared Ownership properties. (with additional reference to the exit strategy recommendation (ii), which may change the mix.

(ii)  Further to recommendation (i) that the final unit-specific designation and therefore number of Shared Ownership homes be determined according to sales demand and by implementation of an exit strategy involving redesignation to rent as detailed in this report to be adapted as required. Further detail can be found in the Exit Strategy.

(iii)  That the internal property upgrade specification for the additional 18 number Shared Ownership homes is amended from that provided for the original 19 Shared Ownership homes. (Refer to appendix 2 Shared Ownership fit out specification).

(iv)  The procurement of a Shared Ownership Advisor and Shared Ownership Sales & Marketing Partner to include the Shared ownership homes in recommendation (i) (18 No. extra) with scope for the appointments to reduce in line with the exit strategy in recommendation (ii).

(v)  To delegate authority to the Head of Property to approve the final details relating to all matters outlined in this report, to conduct procurement activity and appoint successful bidders and to approve and implement any changes to tenure mix required in accordance with the exit strategy.

That Cabinet Note:

(vi)  If the scheme results in the creation of a number of specialist housing units (homes), requiring shared occupancy, which created multiple tenancies, the total number of units (homes) will increase to be more than the 103 total.