Decision details

In June 2006 Cabinet agreed to dispose of land in its ownership to Nene Housing Society (now called Accent Nene) to provide 6 affordable homes to meet housing needs for £100,000.

The Portfolio Holder for Housing is asked to revisit this decision, in light of current economic and financial matters relating to this project.  A copy of the most recent and up to date valuation is attached for the Portfolio Holders consideration.

Cabinet AGREED

(a)               to dispose for affordable housing purposes to Nene Housing Society land in the Council’s ownership at Oakington Road, Cottenham for £100,000 to facilitate the provision of six new affordable homes to meet identified local needs, the terms of the disposal to be:

(i)                 that Nene Housing Society meet any legal costs incurred by the Council;

(ii)                that the Council be entitled to receive nomination rights of 100% of initial lets and 75% of subsequent lettings of all the social rented units;

(iii)              that the Council receive 100% nomination rights in perpetuity to any shared ownership and / or other intermediate tenures provided; and

(iv)              that the site be used for affordable housing purposes only.

(b)               that, if necessary, an application be made to the Secretary of State for consent to dispose of the site at less than best consideration to Nene Housing Society as our preferred partner Registered Social Landlord partner on the above terms.