Decision details

To consider whether or not to transfer the site to a housing association to develop for affordable housing.

(1)        That the land to the rear and side of Roundhills Shops in Waltham Abbey (shown delineated in black on the attached Appendix to the report) - comprising the land previously leased to the Red Cross for the provision of a hall, seven Council-owned garages and associated vacant land – be developed by the Council for the provision of affordable rented housing, in partnership with one of the Council’s Preferred Housing Association Partners;

(2)        That the Housing Portfolio Holder be authorised to select one of the Council’s Preferred Housing Association Partners to undertake the development following a tender process, based on the indicative provision of 4 X 3 bedroomed houses and 3 x 1 bedroomed flats at affordable rents and:

(a)        the proposed amounts to be paid to the Council by the housing associations; and

(b)        any other material considerations considered appropriate by the Housing Portfolio Holder;

(3)        That the selected Preferred Housing Association Partner be required to:

(a)        evaluate the indicative proposal and assess whether or not more affordable properties could be provided on the site, subject to the capital receipt received by the Council being no lower than the selected Housing Association’s tendered sum; and

(b)        submit a detailed planning application for the proposed scheme at its own cost and risk;

(4)        That, subject to the receipt of planning permission and the selected housing association undertaking the approved development, the selected housing association be granted a 125 year lease for the land for the agreed sum, with the Council receiving nomination rights in accordance with the District-wide Nominations Agreement;

(5)        That any capital receipt arising from the transfer be retained as a usable capital receipt for use in the future, and not be ring-fenced to facilitate the provision of affordable housing on another site; and

(6)        That if the selected tender results in a negative valuation, with grant required to make the proposed development viable:

(a)        the selected housing association be required to seek grant funding from the Homes and Communities Agency (HCA); and

(b)        if the HCA does not provide grant funding, a report be submitted to a future meeting of the Cabinet to agree the way forward, including the possible provision of grant by the Council.