Decision - New Homes for Neighbourhoods - Final Scheme Approval - Findon Road and Garage Sites Update

(1)  That approval be given for:

i.                 The final design.

ii.               The scheme rent levels.

iii.              The estimated levels of additional investment required from the Housing Revenue Account (HRA) for the chosen rent model and delegates authority to the Executive Director of Environment, Development and Housing and the Executive Director of Finance and Resources in consultation with the Estate Regeneration Member Board to agree reasonable amendments to that subsidy if changes arise.

(2)      That the Policy and Resources Committee be recommended to:

iv.             Approve that the land at Findon Road, former Whitehawk library site is appropriated to the HRA for a capital receipt of  £0.940 million for planning purposes and the development of new housing.

v.               Approve a budget of £14.1 million for the Findon Road scheme in the HRA Capital Programme which will be financed through a mixture of unsupported borrowing and retained Right to Buy capital receipts.

vi.              That the site at 4-7 and 15-20 Kensington Street is appropriated for planning purposes and the development of new housing.