Decisions for issue New Homes for Neighbourhoods - Kensington Street development

Agree that the site is appropriated to the Housing Revenue Account for a capital receipt of up to £225,000 for the development of new housing.

(1)            That Option One be agreed for the scheme as set out in Table 1.

(2)            That the design be noted.

(3)            That the rent model set at 80% market rent capped at LHA rate be approved. 

(4)            That the estimated levels of subsidy required from the HRA for the chosen rent model be approved and that delegated authority be given 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.

(5)            That the Policy & Resources Committee be recommended to agree that the site is appropriated to the Housing Revenue Account for a capital receipt of up to £225,000 for the development of new housing.