The Council has an ambitious housebuilding programme that is funded via the Council’s adopted Capital Programme, which encompasses homes for Affordable Housing (AH), Private Rented Sector Housing (PRS) and on occasion a limited amount of exposure to Market Sale (MS) Housing too. The development strategy for the programme was approved by the Policy & Resources Committee on 19th January 2022, and the proposals as outlined in the report are consistent with delivering that strategy.

RESOLVED: That

1.  The financial returns for the proposed acquisition as shown in Exempt Appendix 3 to the report, which supports the Housing Development and Regeneration Investment Plan and overall Development Strategy, be approved;

2.  Delegated authority be given to the Director of Finance, Resources and Business Improvement to:

a.  Negotiate terms for the purchase of the proposed acquisition for the sum as shown in the Exempt Appendix 3 to the report;

b.  Procure and enter into all such deeds, agreements, contracts and documents which may be required to facilitate the purchase of the site, and the subsequent redevelopment works required to deliver the scheme referred to in this report. Including (but not limited to) any related appointments such as suitably qualified consultants and a Contractor;

c.  Subject to satisfactory conclusion of all due diligence to negotiate and finalise and complete all legal formalities, deeds and agreements which may be required to facilitate the purchase;

3.  The Head of Mid Kent Legal Services be authorised to appoint the Solicitors required to negotiate and complete the necessary contract documentation, deeds and agreements associated with the purchase and construction works on the terms as agreed by the Director of Finance, Resources & Business Improvement;

4.  Post completion of the procurement process, a contractor be appointed for the build cost detailed in the financial summary at Exempt Appendix 3 to the report. If in the event tenders for the works cost are in excess of the agreed sum then officers will return to the Committee/Cabinet to seek further approval prior to the development itself commencing.

The Council has an ambitious housebuilding programme that is funded via the Council’s adopted Capital Programme. This housebuilding programme encompasses homes for; Affordable Housing (AH), Private Rented Sector Housing (PRS) and on occasion a limited amount of exposure to Market Sale (MS) Housing too. The development strategy for the programme was approved by the Policy & Resources Committee in January 2022, and the proposal is consistent with delivering that strategy.

RESOLVED: That

1.  The financial returns for the proposed acquisition as shown in Exempt Appendix 3 to the report be approved, which supports the Housing Development and Regeneration Investment Plan and overall Development Strategy;

2.  Delegated authority be given to the Director of Finance, Resources and Business Improvement to:

a.  Negotiate terms for the purchase of the proposed acquisition for the sum as shown in the Exempt Appendix 3 of this report;

b.  Procure and enter into all such deeds, agreements, contracts and documents which may be required to facilitate the purchase of the site, and the subsequent redevelopment works required to deliver the scheme referred to in this report. Including (but not limited to) any related appointments such as suitably qualified consultants and a Contractor;

c.  Subject to satisfactory conclusion of all due diligence to negotiate and finalise and complete all legal formalities, deeds and agreements which may be required to facilitate the purchase;

d.  Negotiate and agree any lease between The Council and Maidstone Property Holdings;

3.  The Head of Mid Kent Legal Services be authorised to appoint the Solicitors required to negotiate and complete the necessary contract documentation, deeds and agreements associated with the purchase and construction works on the terms as agreed by the Director of Finance, Resources & Business Improvement.