Decision details

To agree the recommendation of the Cabinet Committee to appropriate the land at Burton Road for planning purposes, which is currently held in the HRA.

(1)     That the Cabinet Committee approves the development feasibility for the Burton Road Site, Loughton consisting of a 56-home scheme to progress to detailed planning stage, and if planning permission is received the invitation of tenders as Phase Two of the Council’s Housebuilding Programme;

(2)       That it be noted that the estimated capital investment required to deliver a scheme consisting of 56 new affordable rented Council properties in Phase Two, is around £8.9m including fees and works;

(3)       That an estimated subsidy of £1.512m  for a 56-home scheme be set aside for Phase Two in order to achieve a pay-back of 30 years with a positive Net Present Value (NPV) as required by the Council’s Development Strategy;

(4)       That a financial contribution of £18,400 to the NHS to fund healthcare should be included as part of the resultant planning permission by way of a Unilateral Undertaking, subject to the money being specifically spent on services in the Loughton area; and

(5)       That the Housing Portfolio Holder be authorised to submit a detailed planning application for the Burton Road development site.