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MAIDSTONE BOROUGH COUNCIL
RECORD OF DECISION OF THE EXECUTIVE
Decision Made: 18 April 2023
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Property acquisition for 1,000 affordable homes programme
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Issue for Decision
The Council has an ambitious housebuilding program is funded via the Council’s adopted Capital Program. This housebuilding program encompasses homes for Affordable Housing (AH) Private Rented Sector Housing (PRS that) and on occasion a limited amount of exposure to Market Sale (MS) Housing too. The development strategy for this program was approved by the Policy and Resources Committee in January 2022 and the proposals within this report are consistent with delivering that strategy.
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Decision Made
1. The financial returns for the proposed acquisition as shown in Exempt Appendix 3 to the report, be approved. 2. The Director of Finance, Resources and Business Improvement be granted delegated authority to: a) negotiate terms for the purchase of the site, for the sum as shown in the Exempt Appendix 1 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 a suitably qualified Employers Agent and 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 Solicitors 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, to employ the necessary consultants to progress a planning application; and 5. Post completion of the procurement process, to appoint a contractor for the works cost detailed in the financial summary Exempt Appendix 3 to the report. If in the event tenders for the works cost are in excess of the agreed sum, Officers will return to the Executive to seek further approval prior to the development itself commencing.
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Reasons for Decision
When appraising new housing development opportunities, the New Business and Housing Development Team consider proposals against the following standard risk headings:
• Site location and ownership • Town Planning Status • Schedule of accommodation, tenure mix and parking ratio • Quality – Maidstone Building for Life 12. • Housing Management. • Deal structure • Contractor procurement • Financial viability • Delivery program • Professional team
The opportunity proposed in this report is fully appraised against these standard risk headings in Exempt Appendix 1 to the report.
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Alternatives considered and why rejected
Option 1: That the proposed acquisition is not approved. The Council would however lose an excellent opportunity to purchase a site with access to good transport links and amenities to add to its housing stock. It will assist in much needed affordable accommodation in the Borough and contribute towards the Councils 1,000 Affordable Homes delivery target.
Option 2: That the proposed acquisition is approved on the agreed terms. This site when built will assist with affordable housing provision, contributing towards delivering the 1,000 affordable homes target.
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Background Papers
None.
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I have read and approved the above decision for the reasons (including possible alternative options rejected) as set out above.
Signed:________ Leader of the Council.
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Full details of both the report for the decision taken above and any consideration by the relevant Policy Advisory Committee can be found at the following area of the website
Call-In: Should you be concerned about this decision and wish to call it in, please submit a call-in form signed by any three Members to the Proper Officer by: 5pm on Thursday 27 April 2023. |