Decision details

(1)        That the Development Strategy, formulated by the Council’s Development Agent in conjunction with Council Officers, and attached as an Appendix to the report to the Cabinet Committee be adopted with specific attention drawn to the following:

(a)        financial appraisals for each phase to be modelled on a 30-year pay-back period with a positive Net Present Value (NPV) over 30-years, using the financial assumptions set out in the appendix to the Strategy;

(b)        any financial shortfall to be met with subsidy, the details of which are set out in a separate report on “Funding the Housebuilding Programme” considered by the Cabinet Committee;

(c)        the Key Performance Indicators to be used, as previously agreed by the Cabinet;

            (d)        the feasibility reporting format, consisting of:

(i)      the design proposals (the number and nature of

units to be developed);

(ii)     a scheme budget estimate;

(iii)    a procurement plan;

(iv)    a financial appraisal of the site;

(v)     a project time table;

(vi)    a project risk assessment; and

(vii)   a recommendation on how to proceed.

(e)        East Thames’ existing EU-compliant Framework Agreement to be used for constructing the Council’s new homes;

(f)         the East Thames Design Guide being adopted to inform the development of each site; and

(g)        the East Thames Employers’ Requirements being adopted.