1.1  The development strategy to deliver 1,000 new affordable homes was agreed by the Policy and Resources Committee on 19^th January 2022. As part of the agreed strategy, there is an expectation that 50% of affordable homes delivered will be from non - council owned urban brownfield sites.

1.2  To support this programme an opportunity has arisen to purchase a site with planning consent for 28 apartments in Maidstone.

1.3  Once built, the apartments will be let at Affordable Rent, with rents set at 80% of prevailing market rent, but capped at Local Housing Allowance.

1.4  The Executive was asked to approve the purchase of the proposed acquisition. An offer for the Freehold acquisition has been accepted by the developer (Subject to Committee Approval, Grant Receipt, RICS valuation, Site Survey and satisfactory contract).