Issue - meetings

The report of the Director – Neighbourhoods is attached.

It was RESOLVED that the appointment of a suitably qualified consultant to assess the options for the Council in respect of a Council company or joint venture vehicle through which the Council may retain some form of interest in the dwellings funded by way of the Affordable Housing Capital Budget, be approved. 

The Cabinet Portfolio Holder for Communities and Climate Change, Councillor Brennan presented the report of the Director – Neighbourhoods providing an update on the allocation of the Council’s Affordable Housing Capital Budget.  

Councillor Brennan advised that the Affordable Housing Capital Budget, which supported the provision of additional affordable housing consisted in part of commuted funds allocated in lieu of onsite affordable housing, where local planning policies required it.  Cabinet noted that significant additional funds of £2,387,500, had been received, with a further £1,392,500 expected next year, from the Chapel Lane development in Bingham, details of which were highlighted in paragraph 4.5 of the report.  Prior to this windfall the budget had stood at approximately £1.6 million, which had been used for smaller scale interventions, including the Garage sites initiative and the Next Steps Rough Sleeper units. 

Councillor Brennan stated that with those significant additional sums, consideration could be given to more ambitious options to intervene more strategically, to support the delivery of affordable housing, and to consider issues such as retention or partnering, to enable the Council to retain a stake in funded assets.  Cabinet was advised that given the sums involved, it was recommended that a specialist consultant be appointed, at a cost of up to approximately £10,000, to examine the options available for the enhanced delivery of affordable homes in the Borough.

In seconding the recommendation, Councillor Inglis concurred with the comments made and stated that the provision of more affordable housing would be welcomed by residents.  Cabinet noted the importance of helping people to get onto the property ladder without having to move away from Rushcliffe, especially in rural areas where property prices were very high and out of reach of first-time buyers.  In conclusion, Councillor Inglis welcomed the additional funding and the appointment of a specialist consultant and looked forward to hearing the consultant’s findings.

Councillor Moore welcomed the report and reiterated the concerns surrounding house prices in rural areas and hoped that this additional funding would encourage more ambitious affordable housing projects to be built, and looked forward to hearing the consultant’s findings.

It was RESOLVED that the appointment of a suitably qualified consultant to assess the options for the Council in respect of a Council company or joint venture vehicle through which the Council may retain some form of interest in the dwellings funded by way of the Affordable Housing Capital Budget, be approved.